On November 8th, Zaiding Pharmaceutical released its Q3 financial report. Data shows that the total revenue of Zaiding Pharmaceutical's products in the third quarter was 69.228 million US dollars, a year-on-year increase of 21.53%, and a year-on-year increase of 27% calculated at a fixed exchange rate. Mainly due to the increase in sales, the official launch of the newly approved product Weiweijia, and a decrease in the negative impact of the COVID-19 pandemic.
Financial report data shows that compared to the same period in 2022, several heavyweight products of Zaiding Pharmaceutical have achieved strong growth.
In the third year of being included in the national medical insurance drug catalog, Zele continued to maintain its position as a leading hospital sales PARP inhibitor in the field of ovarian cancer in mainland China, with product revenue increasing from $39.2 million to $41.6 million. The revenue of Epshield products increased from $10.7 million to $11.6 million, thanks to the improved accessibility of the product for self funded patients. In addition, the revenue of the two products, Qingle and Newzele, which have already been included in medical insurance, both achieved year-on-year growth.
In September 2023, Weiweijia& was used in combination with conventional treatment drugs to treat adult gMG patients with acetylcholine (AChR) antibody positivity; Reg; (Agamod) α Injection) has been launched in mainland China, and the number of commercial products from Zaiding Pharmaceutical has increased to 5. In just one month of commercialization, Wei Weijia achieved sales revenue of $4.9 million.
In addition to existing products that have already been launched, Zaiding Pharmaceutical is still actively exploring the multiple indications coverage of products that have already been launched, as well as promoting the further implementation of research and development pipelines.
The company is also continuing to promote the development of its subsequent dosage forms for the heavyweight new drug Agamod in the field of self immunity, which has received considerable market attention. Zaiding Pharmaceutical stated that its drug application for the treatment of systemic myasthenia gravis is expected to be approved by the National Drug Administration in 2024.
Another product in the pipeline of the already launched products of Zaiding Pharmaceutical, tumor electric field therapy, is expected to receive multiple indications for market application and disclosure of main clinical research data by the end of 2023 and 2024.
In addition to exploring multiple indications for products that have already been launched, Zaiding Pharmaceutical also has multiple products in the fields of tumors, Alzheimer's disease and psychiatric disorders (ADP), which are about to usher in multiple important milestones and the latest research results in the coming year.
Founder of Zaiding Pharmaceutical Dr. Du Ying, Chairman and CEO, stated, "In the third quarter of 2023, we achieved multiple important milestones, including the National Drug Administration (NMPA) We are reviewing and approving multiple new drug launch applications from our company and conducting critical clinical studies on drugs with significant market potential. We have a good advantage in accelerating our pipeline progress, expanding our commercial product portfolio, and bringing more benefits to patients worldwide