Gelonghui, March 27 | Zhaoke Ophthalmology-B (06622.HK) announced that the company first confirmed sales revenue in 2023: in 2023, the company recorded total revenue of RMB 18.8 million, of which RMB 4.7 million came from the sale of ophthalmic drugs (including bemesol timolol and Ruibault), while RMB 8.4 million came from the sale of non-prescription ophthalmic products (Baudexi series hot eye masks). Additionally, the company recorded revenue of RMB 5.6 million from distribution transaction payments outside of China.
The company's pipeline is equipped with a variety of key innovative drugs that may have significant curative effects, which are expected to be launched in the next few years.
For the year ended 31 December 2023, the company's R&D expenditure was RMB 333.1 million, an increase of approximately 12.4% over RMB 296.4 million for the year ended 31 December 2022.
The company has taken an important step in establishing a global footprint and leading products out of China. In March 2023, the company entered into a distribution and supply agreement with KDP. Under the terms of the agreement, Zhaoke Ophthalmology granted KDP exclusive rights to import, promote, distribute, market and sell NVK002 in South Korea. Following the reporting period, the company entered into a number of new licensing partnership arrangements in South Korea, Malaysia and Thailand in the first quarter of 2024.
The company anticipates that CHAMP China will complete the final visit of the last patient in the summer of 2024. The completion of this two-year phase III clinical trial for the innovative myopia drug NVK002 will mark another milestone for the company's likely drug with remarkable curative effects. The company also anticipates that the last patient in the phase III study of TAB014 of WAMD will complete the final visit in early fall 2024 and is expected to submit a new drug application thereafter.
Meanwhile, following regulatory approval in January 2024, the company will conduct clinical trials of BRIMOCHOL PF and Carbachol PF, a potential innovative treatment for presbyopia in China later in 2024. The company also plans to re-submit a new drug application for the self-developed innovative drug cyclosporine A eye gel for the treatment of dry eye syndrome in 2024.
Furthermore, the company is focusing on building a sustainable business, spread across China, Asia, and the rest of the world. Following the successful implementation of licensing agreements in South Korea, Malaysia and Thailand, the company is actively exploring other opportunities in Southeast Asia and evaluating the possibility of operating in Australia. Meanwhile, the company continues to actively evaluate the possibility of submitting a new drug trial application for ciclosporin A eye gel in the US.