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Jiankangyuan, a veteran biopharmaceutical company with over 20 years of market experience, has accelerated its expansion from health products to pharmaceuticals, establishing multiple R&D platforms for innovative drugs and high-barrier complex formulations.

The organic combination of creation and research, and the systematization of research and production systems, have helped Jiankangyuan achieve rapid breakthroughs in product innovation and manufacturing, resulting in an increasingly rich and expanding product pipeline.

“Looking to the future, Jiankangyuan will continue to use innovation to drive the accelerated development of new productive forces, and through technological breakthroughs and innovation in production factors, continuously strive towards high-quality development,” said Zhu Baoguo, Chairman of Jiankangyuan.

From health oral liquids to innovative drugs

On June 13, 2024, Jiankangyuan's self-developed Salmeterol/Fluticasone Inhalation Powder successfully obtained approval as the first domestic generic drug, marking another breakthrough for the company in the inhalation formulation field and taking another step towards full dosage form coverage. Unexpectedly, this company, which has successfully launched many high-end preparations, initially started in the health product industry.

“Love her, give her Tai Tai Oral Liquid.” In the 1990s, this advertisement became popular throughout China, bringing its R&D and manufacturing company, Jiankangyuan, into the public eye. After listing on the Shanghai Stock Exchange, the company has made continuous breakthroughs in R&D innovation, capacity expansion, and market expansion through methods such as share allocation, public issuance, and bonds.

In 2013, Jiankangyuan officially entered the inhalation formulation field, becoming one of the earliest domestic companies to deploy in this area. After six years of deep cultivation, Jiankangyuan's inhalation formulation platform has broken the overseas monopoly, with multiple high-quality inhalation formulation products launched, making it one of the leading domestic companies in this field.

“The inhalation formulation market was originally dominated by multinational companies, but with the strengthening of R&D capabilities of domestic companies and the expiration of original drug patents, the substitution process of domestic inhalation formulations is accelerating,” Zhu Baoguo introduced, adding that after the company's products were launched, their domestic market share rose to the first echelon.

Jiankangyuan has also created a new world for innovative drugs. The company continues to strengthen the construction of R&D technology platforms such as inhalation administration, antibody technology, sustained-release microspheres, and complex injection preparations. Focusing on areas with significant clinical needs, such as respiratory, digestive tract, assisted reproduction, psychoneurology, oncology, anti-infection, and metabolism, it has deployed an innovative drug pipeline, forming a diversified and high-quality product matrix.

Making good use of the capital market “Toolbox”

Jiankangyuan is adept at leveraging the capital market for development. In the past three years, the company first acquired 40% of Tianjin Tongrentang from Tianshi through Lizhu Group, and promoted its domestic listing plan, then landed on the SIX Swiss Exchange, becoming the first domestic biopharmaceutical company to issue Global Depositary Receipts (GDRs) on the SIX Swiss Exchange. In addition, the company has also planned the spin-off listing of Lizhu Reagent, a subsidiary of Lizhu Group, demonstrating frequent actions.

As early as 1997, Zhu Baoguo led the unlisted Jiankangyuan to acquire Haibin Pharmaceutical Factory, the third-largest pharmaceutical factory in Shenzhen, at a price-to-earnings ratio of five times, successfully transforming from a health product company to a pharmaceutical company and achieving "dual-wing flight" of health products and pharmaceuticals. Only half a year after listing, Jiankangyuan acquired the famous Hong Kong Ying brand ginseng, achieving another victory in the health product field. The following year, the company acquired Lizhu Group. This acquisition enabled Jiankangyuan's business map to expand rapidly, its industrial structure to be optimized and upgraded, and its R&D capabilities and market competitiveness to be significantly enhanced.

“Jiankangyuan adheres to the concept of open cooperation, actively seeking cooperation with excellent enterprises both inside and outside the industry, further consolidating and expanding its leading position in the pharmaceutical and health care field through mergers and acquisitions, and continuously optimizing its merger and acquisition strategies and management processes, to move towards a higher-quality development stage with a more stable pace,” said Zhu Baoguo.

“Breaking through the last mile”

In April 2024, Jiankangyuan's anti-influenza virus drug TG-1000 capsules Phase III clinical trial reached its primary endpoint and officially advanced its listing process. “This project, from introduction to preparation for listing, took only one year, establishing confidence for the company's faster implementation of more innovative drug projects,” said the project leader.

It is understood that this drug is a result of cooperation between Jiankangyuan and Taijing Biotechnology Co., Ltd. and Taijing Pharmaceutical R&D (Beijing) Co., Ltd., signing an exclusive domestic license agreement for the latter's developed anti-influenza virus drug TG-1000. Before introduction, Phase II clinical trials had been completed, and after introduction, Jiankangyuan led the completion of Phase III clinical trials.

“The company actively connects with global high-quality resources and cutting-edge technologies, actively establishing strategic partnerships with top domestic and international companies, and achieving rapid product transformation through patent licensing, commissioned development, collaborative development, and technology purchases,” said a relevant person in charge of Jiankangyuan.

Jiankangyuan has introduced multiple innovative drug pipelines that synergize with existing product lines. In 2024, through cooperation with Quanxin Bio and Boan Bio, the company obtained the rights to anti-TSLP monoclonal antibody (QX008N) and anti-IL-4Ra monoclonal antibody (BA2101), providing new solutions for the treatment of respiratory diseases.

In the pharmaceutical field, breaking through the research to production “last mile” is a complex and critical challenge. “Jiankangyuan is well aware that the disconnect between research and production is one of the key factors restricting the rapid listing of products,” Zhu Baoguo said. After years of development, the company's R&D system has covered the entire cycle of drug development and production, and can solve complex process problems in drug R&D and production.

“In the future, Jiankangyuan will continue to grasp the main line of innovative development, increase R&D efforts, continuously deepen the collaborative development and licensing introduction of core varieties in key areas, enrich and consolidate the innovative product pipeline, expand the overseas market layout of products, and achieve high-quality and sustainable development,” Zhu Baoguo said.


This article is from: Shanghai Securities News