BRIEF: InnoCare revenue jumps 37% in 2024 on strong lymphoma drug sales
InnoCare Pharma Ltd. (9969.HK; 688428.SH) said on Thursday its revenue rose 37% last year to 1.01 billion yuan ($138 million), fueled by strong gains for Orelabrutinib, its drug used to treat lymphoma and autoimmune diseases. About 1 billion yuan of its revenue for the year came from Orelabrutinib, whose sales rose 49% year-on-year, the company said.
InnoCare continues to lose money, reporting a 443 million yuan loss for all of last year. But that figure was about 30% narrower than the 644 million yuan loss it reported in 2023. The company said its narrowing loss owed both to higher sales of Orelabrutinib, as well as improved operating efficiency as it gained greater scale.
InnoCare’s Hong Kong-listed stock rose 4% on Friday morning in Hong Kong to close at HK$5.46 by the midday break.
By Doug Young
To subscribe to Bamboo Works weekly free newsletter, click here
Related Articles
RELATED ARTICLES
-
BRIEF: InnoCare, KeyMed in antibody licensing agree with Prolium
9969.HK 688428.SHG -
Earnings blow for CSPC Pharma as the state drives a hard bargain
1093.HK
-
After a failed Fosun buyout, what’s next for drug maker Henlius Biotech?
2696.HK
-
DPC Dash serves up banner 2024 topped with milestones
1405.HK
-
Horizon’s lead grows in smart driving race with new product rollouts
9660.HK
-
Dingdong rings up strong end to 2024, but warns of turbulence ahead
DDL.US
-
After profit plunge in 2024, Maoyan spotlights strong start to 2025
1896.HK
