Hualing Pharmaceuticals-B released its interim report on June 30, 2024, showing a significant increase in sales of its type 2 diabetes drug Huatangning®. The drug was included in the National Medical Insurance Drug Catalog in November 2023 and was fully reimbursed in the mainland of China on January 1, 2024. It cooperates with Bayer Healthcare Co., Ltd. and 80 primary distributors to promote the drug in 31 provinces and municipalities directly under the central government. In the first half of 2024, sales reached 846,000 boxes, an increase of 634,000 boxes compared to the same period last year. Sales revenue amounted to RMB 102.7 million, with a gross margin of 46.5%. However, due to the price reduction in the National Medical Insurance Drug Catalog, the gross margin decreased compared to the same period...Show More

Hualing Pharmaceuticals-B released its interim report on June 30, 2024, showing a significant increase in sales of its type 2 diabetes drug Huatangning®. The drug was included in the National Medical Insurance Drug Catalog in November 2023 and was fully reimbursed in the mainland of China on January 1, 2024. It cooperates with Bayer Healthcare Co., Ltd. and 80 primary distributors to promote the drug in 31 provinces and municipalities directly under the central government. In the first half of 2024, sales reached 846,000 boxes, an increase of 634,000 boxes compared to the same period last year. Sales revenue amounted to RMB 102.7 million, with a gross margin of 46.5%. However, due to the price reduction in the National Medical Insurance Drug Catalog, the gross margin decreased compared to the same period last year. The company expects the gross margin to increase with the expansion of production scale. Clinical research on HMS1005 progressed smoothly after its market launch, with phase I research conducted in the USA. The company incurred a loss of RMB 142.2 million during the period, with research and development expenses increasing to RMB 119.8 million. As of the end of the reporting period, the company's cash and cash equivalents amounted to RMB 1,338.8 million.