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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.

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