English | 简体中文 | 繁體中文 | 한국어 | 日本語
Thursday, 29 August 2024, 22:23 HKT/SGT
Share:
CanSinoBIO Reports Outstanding H1 2024 Performance
- Meningococcal Vaccines Drive Growth and Accelerate Collaboration and Internationalization

HONG KONG, Aug 29, 2024 - (ACN Newswire) - CanSino Biologics Inc. (CanSinoBIO) today disclosed its performance report for the first half of 2024, with revenue reaching 303 million yuan, while losses were substantially reduced. The meningococcal conjugate vaccines demonstrated robust growth, particularly the Group ACYW135 Meningococcal Conjugate Vaccine (CRM197), known as MCV4 or Menhycia®. As the first quadrivalent meningococcal conjugate vaccine product in Asia, it not only fills the market gap, but also provides a better choice for the prevention of meningococcal disease in Chinese infants and young children. In the first half of 2024, CanSinoBIO's two meningococcal vaccines generated approximately 263 million yuan in revenue, marking a significant increase of around 18% compared to last year.

In addition, CanSinoBIO is making strides in clinical trials for expanding the age group of MCV4, aiming to cover children aged four and above, as well as adults. This initiative seeks to broaden vaccination coverage to meet the needs of a wider population. Concurrently, the company is advancing the international market expansion of the MCV4, leveraging its successful overseas commercialization experience with its COVID-19 vaccine. CanSinoBIO is deepening collaborations with leading international research institutions, focusing on registration and commercialization in Southeast Asia, the Middle East, North Africa, and South America. It indicates that the company is accelerating the commercial layout in the global market.

Moreover, the market expansion experiences and strategic partnerships will support to expand the reach of its PCV13i [13-valent pneumococcal conjugate vaccine (CRM197, TT Vector)] and DTcP (diphtheria, tetanus and acellular pertussis) components vaccine franchise in global markets. The company is also planning and preparing for WHO PQ certification, exploring the feasibility of international organizations. For global innovative products, CanSinoBIO will actively explore the possibility of accessing developed countries.

In terms of commercialization strategy, CanSinoBIO has adopted an efficient and precise model, relying on its direct sales team and leveraging professional promoters to rapidly extend its marketing network to the county-level areas. The company adheres to a professional academic and customer-oriented approach, ensuring that products reach target groups through in-depth research and terminal services. This approach helps control sales expenses and achieves intensive operations. To date, CanSinoBIO has established a well-structured commercial operation center for both domestic and international markets. The MCV4 has been approved in 30 provinces in China, comprehensively opening up the domestic market. The successful commercialization of MCV4 has laid a solid foundation for the upcoming PCV13i, which is currently undergoing clinical and manufacturing site inspections as planned.

CanSinoBIO has also made significant progress in cost reduction and efficiency improvement, with sales and administrative expenses decreasing by approximately 13% and 39% compared to the same period last year, respectively, reflecting ongoing improvements in operational efficiency.

Overall, CanSinoBIO has integrated R&D, production, and commercialization, gradually transforming into a biopharmaceutical company. With the successful commercialization of MCV4 and the upcoming approval and launch of new products like PCV13i, CanSinoBIO's performance is expected to continue growing. The company’s management team is confident on the company's prospects and has demonstrated strong support through increasing shareholdings.



Topic: Press release summary Sectors: BioTech
https://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 

Latest Press Releases
The 2024 PropertyGuru Asia Property Awards International Luncheon celebrates real estate achievements in the Middle East and South Asia  
Dec 24, 2024 04:00 HKT/SGT
Summit Group Responds to White Paper Citing Governance Issues in Bangladesh's Power and Energy Sector  
Dec 23, 2024 22:40 HKT/SGT
Revolutionize Your Business Plan: How Ai is Making Entrepreneurship Easier  
Dec 23, 2024 21:48 HKT/SGT
Beyond Work Unveils Next-Generation Memory-Augmented AI Agent (MATRIX) for Enterprise Document Intelligence  
Dec 23, 2024 21:00 HKT/SGT
From Visionary Talks to Futuristic Robots: VAP Group's Global Blockchain Show Dazzles Dubai  
Dec 23, 2024 20:46 HKT/SGT
Fujirebio and Eisai Enter into Memorandum of Understanding for Joint Research and Social Implementation of Blood-based Biomarkers in the Field of Neurodegenerative Diseases  
Monday, December 23, 2024 4:22:00 PM
Singapore's most anticipated skyhigh destination C.O.T.U officially opens in iconic Marina Bay this holiday season   
Dec 23, 2024 16:10 HKT/SGT
Nakornthon Hospital PCL (SET: NKT) in First Trading Day on SET  
Dec 23, 2024 16:00 HKT/SGT
Feel the Magic of Snowfall at Spritzer EcoPark's Festive Wonder Carnival 2024  
Dec 23, 2024 16:00 HKT/SGT
Fujitsu drives chemical industry logistics DX with participation in joint logistics demonstration  
Monday, December 23, 2024 12:30:00 PM
More Press release >>
 Events:
More events >>
Copyright © 2024 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575