DJ Uni-Bio Science Group Limited Announces 2023 Interim Results
EQS Newswire / 28/08/2023 / 20:01 UTC+8
Achieved Record High Profit of HKUSD39.4M
Driven by Scale-Up Operations and Remarkable Growth in Marketed Drugs
Expanding Multiple Channels and Diverse Commercialization for New Products
[28 August 2023 - Hong Kong] A fully integrated biopharmaceutical company - Uni-Bio Science Group Limited ("Uni-Bio
Science", together with its subsidiaries referred to as the "Group", stock code: 0690.HK), is pleased to announce its
interim results for the six months ended 30 June 2023 (the "Period").
Key Accomplishments in the First Half of 2023
During the Period, the Group achieved a spectrum of accomplishments, for both of its marketed products and innovative
biologics. The key highlights include:
1. The Group's revenue achieved a remarkable increase of 27.8% year-on-year ("YoY") to approximately
HKUSD249.9 million. Pinup® and GeneTime® generated remarkable turnover, sales of Pinup® and GeneTime® registered
significant increase of 26.6% YoY and 31.8% YoY respectively.
2. The Group recorded a profit of approximately HKUSD39.4 million for the Period, representing a dramatic
increase of 169.2% YoY. The profit was primarily driven by its core scale-up operations and remarkable organic
growth in marketed drugs.
3. The rigorous registration site verification for Bogutai® by the China Center for Food and Drug
Inspections ("CFDI") was successfully completed. With the final round of documents submitted in late May 2023, the
Group expected Bogutai® to be approved for marketing in the second half of this year. Bogutai® is the first
domestically manufacturing PTH liquid in China to use a disposable injection pen, which will be the fifth marketed
and self-developed drug of the Group.
4. In May 2023, the Group achieved a groundbreaking milestone with the successful launch of Fibronectin, the
first product of the Group's advanced skincare raw material. This small-molecule high-activity recombinant human
fibronectin is a result of a joint development effort between the Group and Global Cosmetics. Furthermore, the
Group is diligently exploring diverse commercialization opportunities for Fibronectin, aiming to unlock its full
market potential.
5. The Group established the "Biopeptides Innovative Medicine and Advanced Technology R&D Center" in
Beijing, which brings together the latest advancements in bioinformatics technology, genetic engineering, and oral
formulation techniques, heralding a new era in the biosynthetic polypeptide drug industry.
6. The Group completed the production process validation of Diquafosol Sodium Eye Drops and planned to
conduct stability studies as well as submit the registration application in the second half of 2023.
7. The formulation development of oral form Uni-GLP-1 was successfully completed, and the results showed
that its bioavailability was superior to the positive control oral semaglutide. Currently, formal animal studies in
BaMa Miniature Pig are under preparation to further validate the bioavailability and pharmacokinetics of the oral
form Uni-GLP-1 in animals.
Interim Results
For the Period, the Group recorded a revenue of approximately HKUSD249.9 million, representing a significant increase of
27.8% YoY. The increase in revenue was mainly attributable to the remarkable sales growth of its marketed drugs, namely
Pinup®, GeneTime® and GeneSoft®. Pinup® recorded a noticeable increase of 26.6% in revenue from approximately HKUSD98.5
million to approximately HKUSD124.7 million during the Period. The increase was attributable to the sustained sales
momentum of hospital orders after the last national centralized procurement ended in April 2023, as well as with its
targeted ongoing academic promotions within the medical community. During the Period, revenue generated from GeneTime®
was approximately HKUSD95.9 million, representing an increase of 31.8% YoY. This increase was attributable to the
expanded hospital network and the upgraded production capacity last year, resulting in improved efficiency and output.
The Group also strengthened its marketing system with a strategic focus on academic promotions targeting healthcare
professionals. GeneSoft® recorded an increase in revenue from approximately HKUSD17.8 million to approximately HKUSD22.3
million, representing an increase of 25.7%. The remarkable revenue growth was mainly attributable to the efforts of the
Group's direct sales team to expand both its hospital network and academic promotion channels.
Gross profit was approximately HKUSD198.9 million, representing an increase of 37.6% as compared with the first half of
2022. Gross profit margin increased by 5.7 percentage points YoY to 79.6%, which was due to the enhanced economy of
scale and supplier optimization strategies. The Group maintained stringent control of general and administrative
expenses, which only accounted for 9.4% of revenue for the Period as compared with 12.1% for the same period last year.
The selling and distribution expenses for the Period increased to 50.5% of revenue from 43.5% that of the same period
last year mainly due to the marketing promotional expenses of Pinup® increased this year and the strengthened sales
team recruited for the launch of Bogutai®. The R&D expenses decreased by 51.7% YoY to approximately HKUSD11.7 million due
to the completion of several clinical tests and the capitalization of development expenses.
The Group's profit for the Period experienced an extraordinary surge, soaring from approximately HKUSD14.6 million in the
first half of 2022 to approximately HKUSD39.4 million in the first half of 2023, reflecting an impressive increase of
169.2%. This record-breaking profit was primarily driven by the Group's core scale-up operations and remarkable organic
growth in marketed drugs, showcasing the Group's progress in achieving profitable growth.
Prospects
With the recent moderation of the centralized procurement of drugs, the biopharmaceutical industry will show marginal
improvement, and in the long run, rising income levels, an ageing population, and increased healthcare awareness will
continue to support the growth of the biopharmaceutical industry. The Chinese government has also prioritized
healthcare benefits, focusing on implementing policies like Healthcare China 2030. This initiative aims to strengthen
health technology innovation and enhance the overall quality of healthcare services across the country. According to
Statista, the healthcare market in China is expected to maintain robust growth, with a projected Compound Annual Growth
Rate (CAGR) of 8.8% from 2023 to 2027, reaching a substantial USUSD26.8 billion in 2027. User penetration in the
healthcare industry is anticipated to rise from 22.3% in 2023 to 31.0% in 2027, with an estimated 442.8 million users
by 2027. These figures underscore the enormous market potential that the healthcare sector offers.
Looking forward, Mr. Kingsley Leung, Chairman of Uni-Bio Science said, "We are well-positioned to capitalize on the
burgeoning opportunities in the healthcare market and strive to develop cutting-edge treatments and solutions that
improve the lives of patients while aiming to secure a larger market share. Currently, we are eagerly preparing for the
launch of Bogutai®, our fifth marketed and self-developed drug, in the second half of 2023. We believe that this
represents a pioneering breakthrough in the pharmaceutical landscape. To ensure the successful market entry of Bogutai
®, we have launched a series of strategic marketing events, including salon meetings and academic conferences. A
national press conference is also scheduled for the fourth quarter of 2023. These events will elevate awareness and
generate interest among potential customers. On the other hand, we have also proactively recruited and provided
intensive training for its experts. We aim to solidify Bogutai®'s position as a leading product in its category and
establish a robust market presence upon its launch.
We have been actively expanding our footprint to encompass public and private hospitals, as well as local pharmacies.
The extension of network will significantly enhance our product distribution capabilities, enabling us to capture the
highest levels of traditional market traffic and demand. Recognizing the significance of digital transformation, the
Group has established a dedicated marketing division that spans across all digital channels, including e-commerce
platforms, online hospitals and pharmacies. This will act as a powerful tool to reach a wider audience at a lower cost,
facilitating a broader market presence.
We continue to make efforts to cater the growing demand for the highly sought-after EGF products, GeneTime® and
GeneSoft®, by constructing a new production site in Dongguan, targeted for completion by the end of 2023 and formally
operational in 2025. The site is poised to achieve a production innovation with Industrial 4.0 principles at its core.
By integrating digitalization and elevating automation levels, the Group is embracing a transformative era of
manufacturing excellence to streamline operations and effectively curb labor and production costs. Leveraging the above
strategies, we are committed to providing customers the best-of-class products while lowering our cost and enhancing
efficiencies in the long run."
- END-
About Uni-Bio Science Group Limited
Uni-Bio Science Group Limited is principally engaged in the research and development, manufacture and distribution of
pharmaceutical products. The research and development centre is fully equipped with a complete system for the
development of genetically-engineered products with a pilot plant test base which is in line with NMPA requirements.
The Group also has two GMP manufacturing bases in Beijing and Shenzhen. The Group also has a highly efficient
commercialization platform and marketing network. The Group focuses on the development of novel treatments and
innovative drugs addressing the therapeutic areas of endocrine such as diabetes and osteoporosis, ophthalmology and
dermatology.
Uni-Bio Science Group Limited was listed on the Main Board of the Hong Kong Stock Exchange on November 12, 2001. Stock
code: 0690.
For further information, please contact: ir@uni-bioscience.com
File: Uni-Bio Science Group Limited Announces 2023 Interim Results
28/08/2023 Dissemination of a Financial Press Release, transmitted by EQS News.
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(END) Dow Jones Newswires
August 28, 2023 08:02 ET (12:02 GMT)
