GRAND PHARMA (00512) announced its performance for the year 2024, and its innovative layout helped boost nuclear medicine revenue by nearly 200% again.

On March 12, GRAND PHARMA (00512) announced its performance for the year 2024. According to the announcement, the company achieved an annual revenue of approximately HK$11.64 billion, with a year-on-year growth of approximately 12.8% excluding the impact of exchange rates; the net profit attributable to the parent company was approximately HK$2.47 billion, with a year-on-year growth of approximately 34.0% excluding the impact of exchange rates. With both revenue and profit increasing, the company plans to distribute dividends totaling approximately HK$0.91 billion. As a technology-driven international pharmaceutical company, "Innovation Leading" has always been a key focus in the development of GRAND PHARMA. In 2024, GRAND PHARMA invested a total of approximately HK$2.27 billion in research and projects, achieving 63 major milestones with 23 innovative products. The company's forward-looking innovation strategy has continued to unlock the value of its product pipeline. In 2024, the company introduced 14 new commercial products, including innovative products such as Y-90 microsphere injection Easygentai and LavaTM liquid embolic agent, which have continued to gain traction. This has helped to refresh and upgrade GRAND PHARMA's product portfolio, injecting new growth momentum into the company. In the core nuclear medicine field where the company has strategically positioned itself, GRAND PHARMA has become one of the only four innovative pharmaceutical companies globally to commercialize nuclear medicine applications in cancer treatment. In 2024, the company's nuclear medicine sector achieved a revenue of nearly HK$590 million, a year-on-year increase of nearly 177%. The core product in this sector, Easygentai Y-90 microsphere injection, maintained rapid growth and has treated nearly 2,000 patients to date, with formal procedures being carried out in over 50 hospitals in 22 provinces and cities in China. Furthermore, GRAND PHARMA is actively promoting the adoption of this product, providing theoretical and skills training to over 1,100 doctors in 70 hospitals, with more than 170 doctors obtaining qualifications to independently perform the procedures. In terms of research and development, GRAND PHARMA's nuclear medicine innovative products achieved significant progress in 2024. The innovative radioactive drug TLX250-CDx for the diagnosis of clear cell renal cell carcinoma (ccRCC) entered confirmatory clinical studies and administered the first dose to a patient within the year; ITM-11 for the treatment of gastrointestinal pancreatic neuroendocrine tumors has received approval for two domestic Phase III clinical trials and is progressing smoothly; global innovative temperature-sensitive embolic agent registered clinical studies also administered the first dose to a patient; in addition, the innovative RDC drug TLX591-CDx for the diagnosis of prostate cancer is expected to complete domestic Phase III clinical studies by 2025. With the commercialization of innovative products and the simultaneous advancement of clinical research, the forward-looking layout of GRAND PHARMA's nuclear medicine division has begun to pay off, and with the continuous introduction of more innovative products in the future, the company is expected to see further performance improvement. In other advantageous sectors, GRAND PHARMA has also delivered outstanding results. In 2024, the company's respiratory and critical care sector recorded a revenue of approximately HK$1.71 billion, a year-on-year increase of approximately 26.9%. Through strategic partnerships with BeiGene and the comprehensive development of the inhaled formulation platform, GRAND PHARMA has further enhanced its research and development capabilities in inhaled formulations, and its products can also complement the company's application for Ryaltris compound nasal spray (GSP 301 NS) currently under review for marketing approval, meeting the medication needs of patients with mild, moderate, and severe allergic rhinitis. In addition, the company continues to advance the development of global innovative product STC3141 for the treatment of severe diseases such as sepsis, with all patients in the domestic Phase II trial administered and preliminary results expected in the first half of 2025. In the otorhinolaryngology and cardiovascular emergency sector, GRAND PHARMA's existing products have performed steadily, and the product pipeline continues to expand. Throughout the year, through strategic acquisitions of Dopatai Medical Technology, Tarsus, and Jixing Pharmaceutical, the company has acquired several innovative products with high commercial potential. Particularly, in the innovative ophthalmic direction, the company has launched OC-01, the world's first nasal spray to treat dry eye syndrome that has been approved in China, providing strong support for the continuous development of this sector; in the cardiovascular emergency sector, the company continues to enrich its product portfolio through independent innovation research and development, and has also completed the acquisition of 100% equity in Tianjin Tianbian Pharmaceutical Co., Ltd., further advancing the company's entry into the chronic cardiovascular disease market. Guided by the development concept of "overall advantages, innovation leading, and global expansion," GRAND PHARMA has gradually commercialized its forward-looking diversified business layout and innovative products, successfully achieving stable revenue growth for several years, laying the foundation for the company's subsequent leapfrog development. In the future, the company is expected to continue to maintain steady growth momentum and create more value for shareholders and investors.