(Yicai) April 2 -- Four Chinese biomedicine companies, including Hutchmed China, have turned the financial corner thanks to higher revenues from product sales and external licensing.

Hutchmed, Shanghai Henlius Biotech, Akeso, and Harbour BioMed returned to profit last year, while 10 other biomedicine firms managed to narrow their losses.

Hutchmed had a net profit of USD101.1 million in the 12 months ended Dec. 31, compared with a net loss of USD360.4 million the year before, the Hong Kong-based company said in its annual earnings report released on Feb. 28. Revenue nearly doubled to USD838 million.

Early last year, Hutchmed sold the rights and interests for its Fruquintinib Capsules outside China to Japan’s Takeda Pharmaceutical for USD1.1 billion. In November, the drug received sales approval from the United States Food and Drug Administration for specific colorectal cancer patients.

Henlius turned a net loss of CNY695.3 million (USD96.1 million) in 2022 into a net profit of about CNY546 million last year, thanks to the continuous increase in sales of products that were commercialized, the Shanghai-based firm said on March 21.

Its revenue jumped 68 percent to CNY5.4 billion (USD746.4 million), with sales income soared 70 percent to CNY4.6 billion. The company has five products available in the Chinese market, two of which are also on sale worldwide.

Harbour BioMed reported a net profit of USD22.8 million last year, versus a net loss of USD137.3 million the previous year, according to the Shanghai firm’s annual report published on March 28. Revenue surged 120 percent to USD89.5 million, mainly thanks to licensing deals with global pharmaceutical giants Pfizer, Cullinan Oncology, and Kelun-Biotech Biopharmaceutical.

Akeso turned a net loss of CNY1.4 billion in 2022 into a net profit of CNY1.9 billion last year, its first first since going public, the Zhongshan-based firm announced on March 18. Revenue skyrocketed 440 percent to CNY4.5 billion.

Akeso’s Cadonilimab Injection had sales of CNY1.4 billion in 2023, a 149 percent annual surge. The company logged CNY2.9 billion of revenue from technological licensing and cooperation last year, mostly thanks to the down payment received from Australia’s Summit Therapeutics for the rights and interests of its innovative drug Ivonescimab in some overseas markets.

Boan Biotech lost CNY120 million last year, down 64 percent from 2022, while BeiGene halved its net loss to CNY6.7 billion.

Editors: Shi Yi, Futura Costaglione