illuviumblockchaingame| Focusing on its main business has achieved significant results. Luoxin Pharmaceutical's pharmaceutical industry sales revenue in 2023 will increase by 43.23% year-on-year
Securities Times online newsIlluviumblockchaingameOn the evening of April 26th, Luoxin Pharmaceutical (002793) disclosed its 2023 annual report and 2024 quarterly report. According to the announcement, the company achieved operating income of 23% in 2023.Illuviumblockchaingame6.4 billion yuan, with a net loss of 661 million yuan, a loss reduction of 46.03 percent over the same period last year; from January to March 2024, the operating income was 689 million yuan, with a net loss of 36.7 million yuan, a loss reduction of 59.37 percent over the same period last year. The main reason for the company's performance loss is that the innovative drug business has not yet covered its costs.
In recent years, with the gradual deepening of medical reform and the normal implementation of industry policies such as collection, a large number of traditional pharmaceutical companies have sought transformation in response to changes in the industry and market environment. Luoxin Pharmaceutical, as a veteran pharmaceutical company, is no exception, continuously increasing the size of innovation and transformation. Due to the disturbance of the epidemic in the past two years, a large amount of capital investment in innovative drugs and their commercialization, and the intensification of the impact of industry policies, Luoxin Pharmaceutical, like many of its peers, has also experienced "labor pains".
Looking at the company's financial statements and past announcements, we can find that the decline in operating income in 2023 is mainly related to the sharp decline in its pharmaceutical business revenue. At the end of 2022, the company spun off the pharmaceutical commercial subsidiary Shangyao Luoxin (former modern logistics) due to its strategic focus, resulting in an 87% drop in pharmaceutical business revenue in 2023 compared with the same period last year, as well as a decline in sales revenue of agent products in the commercial sector. But the company's main business, the pharmaceutical industry, earned 2.074 billion yuan (self-products) in 2023, an increase of more than 43% over the same period last year. From January to March 2024, the company achieved operating income of 689 million yuan, a month-on-month increase of 28.17%, a significant increase, indicating a steady improvement in the basic market of the company's pharmaceutical industry. At the same time, investment and layout in innovation transformation are also gradually showing results.
Luoxin Pharmaceutical Co., Ltd. on the one hand to accelerate innovative research and development, self-built direct team to increase market development efforts, on the other hand to promote fine management, continue to improve the company's business quality. The net cash flow generated by the company's operating activities in 2023 was 467 million yuan, a year-on-year increase of 149.72%, and the cash flow successfully became a regular employee. At the same time, under the background of deep adjustment and drastic changes in macroeconomic and industry policies, the company's management continues to improve the efficiency of operation and management, and the company's management expenses in 2023 are 25.08% lower than the same period last year. The scale of financing decreased from 3.5 billion at the end of 2022 to less than 1.5 billion in 2023, and financial expenses decreased by 46.74% compared with the same period last year. The asset-liability ratio also fell from 59.26% at the beginning of 2023 to 49.73% at the end of the year, and the proportion of short-term borrowing to interest liabilities dropped sharply by 67.60%. The debt pressure of the company has decreased significantly and has better financial stability.
The use of drugs in the digestive system has always been one of the trump cards of Luoxin Pharmaceutical Industry, and it is also the key direction of the company's innovative drug transformation. In April 2022, Luoxin Pharmaceutical Co., Ltd. developed and declared a class 1 innovative drug, Tegolasheng tablets (trade name).IlluviumblockchaingameTai XinzanIlluviumblockchaingame?) officially approved. The data show that Tegolasheng tablet is the first new acid inhibitor developed by Luo Xin-potassium competitive acid blocker (P-CAB). It is also the first class 1 innovative drug in China and the first class 1 chemical innovative drug in Shandong Province. it belongs to the major special achievement of national "major new drug creation" science and technology. At present, two indications have been approved for listing: reflux esophagitis and duodenal ulcer, and the third indication "eradication of Helicobacter pylori in combination with appropriate antimicrobial therapy" has been accepted by the State Drug Administration and is expected to be listed in 2024.
According to the annual report, R & D investment in Luoxin Pharmaceutical Industry accounted for about 10% of operating income in 2023, and this proportion has been increasing year by year in recent years. Up to now, in addition to Tigola raw tablets, the company has made phased breakthroughs in the research and development of a number of new drugs during the year.
As a leading enterprise in the field of digestion, Luoxin Pharmaceutical Co., Ltd. has always maintained a keen insight into the market demand and constantly expanded its forward-looking layout in addition to the research and development of innovative drugs. In March this year, Luoxin Pharmaceutical also joined the microecological field where multinational pharmaceutical giants such as Pfizer, Roche and Johnson have joined the bureau, and reached a strategic cooperation with Shenzhen unknown Jun, an AI+ BT microecological research and development company, to make a major layout of intestinal flora transplantation (FMT). Shenzhen unknown Jun authorized Luoxin Pharmaceutical Co., Ltd. to carry out exclusive commercial cooperation within the agreed areas and channels to accelerate the commercialization of FMT treatment.
It is reported that there are more than 500 clinical trials related to intestinal bacterial transplantation registered in the world, which have been used in 85 kinds of diseases, including digestive system diseases, chronic metabolic diseases, immune diseases and mental diseases. According to public information on the domestic government website, "bacterial population transplantation is becoming a new track in the biomedical field, with a global market size of about US $50 billion."
Industry analysts said that Luoxin Pharmaceutical Co., Ltd. as a digestive medicine leader in the commercial advantage, coupled with Shenzhen unknown Jun's leading position in the field of FMT research and development, the two can be described as a strong combination to jointly tap the domestic blue ocean market. (Qi and Ning)
Proofread: Zhu Tian Ting
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