According to the Zhitong Finance App, Zaiding Pharmaceutical (09688) announced its 2023 annual results, with product revenue of US$267 million, an increase of 25%; R&D expenses of US$266 million; net losses of US$335 million, a year-on-year narrowing of 25%; and a loss of $0.35 per share.

According to reports, the increase in revenue was mainly due to increased sales, the launch of Wei Weijia (Agamod alpha injection), and a decrease in the negative impact of the COVID-19 pandemic, but it was also partly offset by increased sales rebates provided to dealers and the impact of recent changes in China's pharmaceutical policy environment in the second half of 2023.

In 2023, the company is pleased to launch the fifth commercial product Wei Weijia in China to treat generalized myasthenia gravis (“gMG”). The company's total product revenue in 2023 was US$266.7 million, an increase of 25% over the previous year. Zele continues to be a leader in in-hospital sales of ovarian cancer PARP inhibitors in mainland China, and the company can increase patient accessibility due to Qingle and New Zale being included in China's national medical insurance drug catalogue for the first time and the increase in the scope of supplementary insurance coverage in the self-funded market. In 2024, the company expects the company's product revenue to continue to increase, such as oral dosage forms from Weiwejia and NZ, which are newly included in the national health insurance catalogue.

The company's various product pipelines also continued to make progress. For example, China's National Drug Administration has accepted new drug marketing applications (“NDA”) of agamod subcutaneous injection (“subcutaneous agamod”) for the treatment of GMG, SUL-DUR for the treatment of infections caused by Acinetobacter baumann, including multi-resistant (“MDR”) and carbapene-resistant (“CRAB”) strains, and reptinib for the treatment of locally advanced or metastatic ROS1+ non-small cell lung cancer (“NSCLC”). The company also obtained a number of positive data this year, including tumor electric field therapy for 2L NSCLC, TIVDAK for 2L cervical cancer, agamod for chronic inflammatory demyelinating polyradiculoneuropathy (“CIDP”), and karXT for schizophrenia. The company has also promoted the company's global pipeline to launch the DLL3 antibody-conjugate drug (“ADC”) project and phase I clinical research on ZL-1218 (a humanized IgG1 monoclonal antibody that binds to human CCR8). In addition, the company increased the company's pipeline assets through commercial development activities and reached a strategic cooperation with Yilian Biotech to obtain a license for the next-generation DLL3 ADC project, which further deepened the company's lung cancer pipeline layout.

The company is also strengthening its global leadership team to continue supporting the company's business in 2023. For example, the company promoted Dr. Chen Yajing as Chief Financial Officer on July 7, 2023. Previously, Dr. Chan joined the company in September 2021 as senior vice president and deputy chief financial officer, helping manage finance, budget, accounting, taxation, funding, and procurement-related work. She is a veteran finance leader with over 20 years of industry experience in life sciences, and a doctorate-trained scientist. Dr. Chan took over as Mr. Cho Kee-cheol, who left office on July 7, 2023. Additionally, the company appointed Dr. Robert Brown as Chief Medical Officer for Oncology in September 2023 to help accelerate the growth and development of the company's global oncology pipeline. Dr. Brown is a leader in oncology drug development and has over 16 years of translation, research, and clinical development expertise in oncology, immunology, and neurology. Dr. Brown reports to Dr. Rafael Amado, the company's president and head of global oncology research and development, and provides strategic leadership and support for the clinical development of the company's oncology pipeline.