Genting Xinyao said the heart of innovative pharmaceutical companies: survive first

Genting Xinyao made $ 390 million a day, but was looked down on?

On August 16th, Geelyd Science announced that it reached an agreement with Genting Xinyao and the "Torconvito" (Goshbuzab) in Greater China, South Korea, Singapore, Indonesia, the Philippines, Vietnam, Thailand, Malaysia, Malaysia, Malaysia All development and commercial rights of Mongolia are transferred to Geely.

This news set off a stir in the capital market. On the 16th, Genting's new Yao stock price fell 19%, and it fell 3.37%on the 17th. The market generally believes that Genting's Xinyao will be able to buy a blockbuster that is hard to buy, which is a manifestation of unconfident business conditions in the future.

Goshazuke is an antibody drug coupling (ADC) targeted by TROP-2, which is used to receive at least two systematic treatment of non-removal local advanced or metastatic three-negative breast cancer adult patients. As of now, Goshbu Mipido has been approved for listing in mainland China and Singapore.

ADC drugs are currently popular varieties. There are only 5 domestic approval in China. The Trop-2 target ADC drugs are only one of the Goshazuzumab. No wonder the outside world thinks that Genting New Yao lost a watermelon.

In fact, there are many unknown backgrounds this transaction.

Gambling

Goshazab is a variety bought by Genting Xinyao in 2019. At that time, he did not expect to make a lot of money.

In 2019, due to the production process, the US FDA rejected the application for listing of Goshbuke. Genting Xinyao chose this opportunity to cooperate, introducing the total cost of $ 835 million from Immunomedics into the Goshfumo Mipide, of which the down payment was only $ 65 million.

At that time, the industry generally believed that the introduction of Goshazukeke was a "gambling" of Genting's new Yao. After all, in the domestic innovation pharmacy, companies were still secretly encouraging who could win the "100 billion market" of PD-1 and buy an ADC that failed to go public. It was not a cost-effective buying and selling.

But Genting Xinyao has always believed that Goshbu Mipidu will become his future profit "dairy cow". After all, global perspective, ADC has begun to appear due to the high specificity of antibodies and the antitumor activity of cytotoxin.

Genting Xinyao is very good luck. After buying this medicine at a low price, good news followed. In September 2020, Geely Deho took $ 21 billion to acquire Immunomedics, and also took Mipidabi Mipide. Geelye improved the production process of Goshbuzumab. Soon this drug was successfully listed in the United States, and Singapore and China, which is responsible for Genting, was also approved one after another.

Theoretically, at this time, Genting Xinyao should have a big recruitment and sales team, laying the commercialization layout of Goshazuzab, and transitioning to Biopharma. However, Gillar had a greater plan, hoping to "buy back" from Genting Xinyao's hand at the time of the Goshbuzumab sold by Immunomedics at the time.

The reality is caught off guard. In order to obtain the Geushazuzab's resistance, Geilyda throws an unpleasant olive branch to Genting Xinyao: it is not only exempted from the remaining high -limit milestone in the authorized license in 2019 Yao 455 million US dollars. "One in and out" twice, and the new Yao New Yao made a lot of money in Genting 390 million US dollars in 3 years, which is undoubtedly a steady earning sale.

As an innovative pharmaceutical company, the commercial team of Genting's Xinyao is the company's largest shortcoming. According to the financial report, as of the end of 2021, the number of commercial teams was only 128. If you want to cover many countries or regions such as China, Singapore, it is obviously a salary of water. If you want to sell the Goshazuzab, you have to invest a lot and prepare a long start time.

Selling varieties to Geely not only allows Genting's newlyyn's cash reserves to reach 5 billion yuan, but the company can last at least 2026 according to the current cash transfer condition.

Faced with such conditions, Genting Xinyao couldn't help it.

Continue

The Jianzhi Bureau learned that after the transfer to Gillar, the production, research and development, and commercialization of Goshbu monoclonal anti -resistance was unified by Gillar.

The Chinese Innovation Pharmaceutical Market has gradually entered the cold winter, and survival is a common topic in the industry. Genting Xinyao's "return" can not help people talk about it.

According to Genting's official website, the company's business model is a clinical drug introduced from overseas. It mainly deploys four major areas: tumor, autoimmune disease, heart and kidney disease, infectious and infectious diseases. Of the 14 models of the drugs, three products were recently approved by the listing of anti -infective drugs XERAVA, LGA nephrotic drug, and ulcerative conjunctivitis ETTASIMO.

Compared to the Goshazuzumab, these drugs do not have a lot of market imagination. Therefore, in the short term, it survived, survived the recent low tide of the industry, and stayed in the mountains. It was not afraid that there was no firewood. This is the main plan of Genting Xinyao.

Faced with this huge amount, Genting's recent plan is: 30%of business development activities and expanding drug pipelines with consistent business development with the company's main business, and 15%are used to continue to develop new original IGA nephropathy drugs. 35%are used for the remaining existing pipelines, 10%are used to enhance the company's discovery capabilities, and other 10%are used as operating funds and general administrative purposes.

In the past, an innovative pharmaceutical company that had been developed for 100 million yuan has now encountered capital pressure, and many companies have begun to shrink the product pipeline. In June of this year, clover intends to suspend the investment of three non -new crown drugs in the research and management line; Watson Biological also announced the termination of the reorganization EV71 vaccine research and development. As early as March 2021, Biotet announced the termination of clinical research and development of many anti -cancer drugs. Cut pipelines, layoffs, sell assets, and sell drug rights. "Renewal" has become the main goal of many innovative pharmaceutical companies. This is the case, no one can blame Genting Xinyao and failed to persist in the end.

The cooperation between Genting Xinyao and Geelyd has opened a new idea of ​​business cooperation in domestic innovative pharmaceutical companies. Of course, being able to earn this kind of money requires enterprises to have a good ability to choose products, and also have great luck.

The road to the commercialization of innovative drugs is long. Whether the company can transform successfully and reaches the moment of the industry, everything is unknown. Genting Xinyao is currently holding at least a lot of money and can breathe slightly. Next depends on whether the capital market can recognize it.

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