FY2022: China's listed pharmaceutical companies ranked by R&D investment

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May 05,2023

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With the disclosure of each pharmaceutical company's 2022 results, we collated the R&D expenses of 20 pharmaceutical companies: Baekje Shenzhou (11.2 billion yuan), Hengrui Pharmaceutical (4.9 billion yuan), and China Biopharma (4.5 billion yuan) ranked the top three, and Baekje Shenzhou is still firmly in the position of "R&D No. 1".

Top 20 domestic pharmaceutical companies' R&D expenses in 2022

Note: Based on the latest exchange rate 1 USD ≈ 6.9230 RMB 1 HKD ≈ 0.8819 RMB

Source: Organized by Biopharma Times

In terms of R&D investment, the above 20 pharmaceutical companies will spend a total of RMB 59.3 billion on R&D in 2022, up 6% year-on-year from RMB 55.8 billion in 2021. As seen from the table, all 20 pharmaceutical companies spent more than 1 billion yuan on R&D, of which only Baji Shenzhou spent more than 10 billion yuan on R&D and topped the list; another 11 pharmaceutical companies spent 2-5 billion yuan on R&D, and the remaining 8 pharmaceutical companies spent 1-2 billion yuan on R&D.

From the point of view of year-on-year growth, there are 80% of pharmaceutical enterprises 2022 increased R & D investment, of which 16 pharmaceutical enterprises R & D year-on-year are more than 10%. It is noteworthy that four pharmaceutical companies in the table scaled back their R&D expenses in 2022, and then the highest in the pharmaceutical industry, scaling back 50% of their R&D expenses.

As a CRO leader, WuXi AppTec 2022 R&D expenses of 1.614 billion yuan, an increase of 71.3% year-on-year. The company continues to invest heavily in R&D expenses to further strengthen its service capabilities for new molecule types such as PROTAC, oligonucleotide drugs, peptide drugs, coupled drugs, dual antibodies, cell and gene therapy.

01 Baiji Shenzhou

There are more than 9,000 global employees in Baiji Shenzhou, and a global R & D and medical affairs team exceed 3,500. Its candidate drugs are ready to go, about 50 clinical pipeline drugs or commercial products, and more than 60 pre -clinical projects. It is expected that 10 new molecules will enter the clinical stage each year in 2024.

Although the revenue of Baiji Shenzhou in 2022 was 9.57 billion yuan, its R & D expenses reached 11.15 billion yuan, which made Baiji Shenzhou out of losses.

Compared with 2021, the external R & D expenses of Baiji Shenzhou in 2022 have decreased, mainly because the prepaid authorization fee of the cooperation agreement has decreased, the relevant external expenditure paid to CRO before the previous outsourcing activities has been reduced. The confirmation cost of expenditure is reduced. On the contrary, its internal research and development costs increased by US $ 220.9 billion to $ 1 billion. The main reason was that its global R & D institutions expanded and increased clinical and pre -clinical candidate drugs, as well as continuous investment in internal research and clinical development activities.

It is worth noting that the Baili Shenzhou BTK inhibitor Beroye A® global sales reached US $ 564.7 million in 2022 (year -on -year+159%). In the United States, Baiyueze's sales in 2022 were US $ 389.7 million (year -on -year+ 237%); in China, Baiyueze's 2022 sales were $ 150.3 million (year -on -year+ 49%). In 2022, Baize's sales in China reached US $ 422.9 million (year -on -year+66%).

At present, there is still $ 4.5 billion in cash on the Baiji Shenzhou account. At the same time, in 2023, Baiji Shenzhou will usher in multiple milestones, such as the expansion of indications for BTK and PD-1, and the advancement of BCL-2 and Tigit R & D pipelines. Looking forward to Baiji Shenzhou to turn losses as soon as possible, create a good performance!

02 Hengrui Medicine

恒瑞医药2022年营收212.75亿元，累计研发投入达到63.46亿元，研发投入占销售收入的比重同比提升至29.83%，创公司历史新高，其中费用化研发投入48.87亿元，较2021同比减少18%。公司已经拥有一支 5000 多人的研发团队，在美国、日本、欧洲和中国多地建有研发中心。2022年恒瑞创新药销售收入为81.16亿元，有近百项创新药学术成果亮相国际顶级学术舞台。

Hengrui Pharmaceutical's revenue in 2022 was 2.2.75 billion yuan, and a total of R & D investment reached 6.346 billion yuan. The proportion of R & D investment accounted for sales revenue to 29.83%year -on -year, and the company has a record high. 18%. The company already has a R & D team of more than 5,000 people to build a R & D center in the United States, Japan, Europe, and China. In 2022, Hengrui Innovation Pharmaceutical's sales revenue was 81.16 billion yuan, and nearly 100 academic achievements in innovative drugs appeared on the top international academic stage.

03 Chinese Biopharmaceutical

Chinese biopharmaceuticals belong to a large pharmaceutical group and have a number of pharmaceutical companies under the jurisdiction. Among them, there are more well -known medical companies such as Zhengda Tianqing, Beijing Ted Pharmaceutical, Lianyungang Runzhong Pharmaceutical and Nanjing Zhengda Tianqing.

In 2022, the total revenue of Chinese biopharmaceuticals was about RMB 28.78 billion, an increase of about 7.1%year -on -year. Among them, the total R & D total expenditure was 4.45 billion yuan, accounting for about 15.5%of the total revenue. Among them, the proportion of R & D investment of innovative drugs and biopharmaceuticals exceeded 74%, and the amount of investment increased by about 19%year -on -year. R & D investment in the field of anti -tumor accounted for about 75%, and the amount of investment increased by more than 15%year -on -year.

Chinese biopharmaceutical focuses on the development of new products in the four major treatment fields of anti -tumor, liver disease, respiratory system and surgery/analgesic. As of the end of 2022, there were 103 products in research, including half (53) of anti -tumor medication. The group has a total of 40 innovative candidate drugs in the field of tumor fields in the clinical application and above development, including 4 products in the listing application stage, 4 products are in the clinical period of clinical III, and 7 products are in the phase of clinical II. The product is in the clinical stage I, and the two products are in the clinical application stage. In addition, the company also has 15 tumor -like biological drugs or generic drug candidates in the clinical application and above development. Chinese biopharmaceuticals are expected to have 8 innovative drugs and 11 biological drugs or generic drugs in the next three years (2023-2025).

04 and yellow medicine

He Huang Medicine was established in 2000. It has been listed in the three places of the Nasdaq, the London Stock Exchange, and the Hong Kong Stock Exchange. There are more than 5,000 employees, of which about 1,800 tumor/immune business. In 2022, He Huang Medicine released the 2022 performance report, with annual revenue of 426.4 million US dollars, an increase of 20%year -on -year; R & D investment of 387 million US dollars, an increase of 29%year -on -year.

R & D investment is mainly used to expand and innovate tumor candidate drugs. Among them, the US and European international clinical and regulatory affairs teams generated US $ 170.9 million ($ 140.1 million in 2021), and its R & D expenditure in China was US $ 216 million ($ 159 billion in 2021).

The comprehensive revenue of the immune business of Yellow Medicine Tumor is 163.8 million US dollars, an increase of 37%year -on -year. Sutida) and Savatinib (product name: Vorisa). Due to the increase in research and development expenditure of tumor/immunohistos, and then added to the sea, the addition of Paco Vanniti was blocked, and at the end of 2022, he had to make a strategic transformation with Huang Pharmaceutical.

05 Zai Ding Medicine

The total revenue of Zai Ding Pharmaceutical in 2022 was US $ 215 million, an increase of 49.0%year -on -year. However, its R & D expenses are tightening. In 2022, R & D expenditure decreased by 50%year -on -year to 286 million yuan, mainly due to the decrease in authorization fees by 330.7 million US dollars, and the initial and milestone payment of the authorization and cooperation agreement was reduced. From the perspective of project classification, in 2022, the R & D expenditure of clinical projects decreased by US $ 277 million, and the R & D expenses of preclinical projects decreased by $ 4.11 million, and the reduction of the authority was reduced by the reduction in authorization fees.

Four key products in Zaiding Pharmaceuticals in 2022 are: Zhele 145.2 million US dollars (+55.2%), Aipu Shield 47.3 million US dollars (+21.6%), Over $ 15 million (+28.7%), New again Le ($ 5.2 million).

Summarize

Looking at the ranking of domestic pharmaceutical companies' R & D investment in recent years, it is not difficult to see that the top 10 companies have basically maintained the same unchanged. R & D and innovative power enterprises are highly focused, forming a situation where the strong is Hengqiang.

Under the resonance of many factors in policies, technology, capital, and talents, China's innovative drugs have ushered in a booming ten years. In 2022, while the biomedical sector suffered a shock in the capital market, it also ushered in a high -quality innovation opportunity, prompting more than 50 innovative drugs (excluding vaccines) in the Chinese pharmaceutical industry in 2022.

China's R & D expenditure has grown rapidly, but there is still a certain gap compared with multinational pharmaceutical companies. In 2022, global R & D 10 pharmaceutical companies' R & D investment reached 104.32 billion US dollars (equivalent to RMB 722.2 billion); while China R & D investment investment in TOP 10 pharmaceutical companies was only 41.7 billion yuan. Compared with global, existence, existence, existence, existence 17 times gap.

Reference materials: annual reports of each company

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