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Strong Sales, Deals Propel China Biotechs To 2023 Profitability

Some Move Into Black For First Time

 
• By Dexter Jie Yan

Strong sales growth and licensing activity in 2023 helped multiple Chinese biotechs to a solid profit performance, some moving into the black for the first time.

profitability
Chinese biotechs' 2023 profit performance boosts confidence in self-sustainability prospects • Source: Shutterstock

Shanghai Henlius Biotech Co. Ltd. and Shanghai Allist Pharmaceuticals Co., Ltd. led the group of Chinese biotech companies reporting full-year net profits in 2023, boosting confidence in the growing self-sustainability of domestic firms in the sector.

Key Takeaways

  • Three Chinese biotechs - Henlius, Akeso and Harbour Biomed - moved into the black for the first time in 2023.

Previously focused on biosimilars, Henlius last year reversed a money-losing streak to return an annual net profit of CNY546m, due...

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