Zai Lab released its annual performance, with total revenue of USD 399 million, an increase of 49.59% year-on-year
Zai Lab released its annual performance for the year ending December 31, 2024, with total revenue of USD 399 million, a year-on-year increase of 49.59%. Research and development expenses amounted to USD 235 million. The revenue growth was mainly attributed to the strong market launch of Weiwei Jia and its inclusion in the national medical insurance catalog, as well as sales growth of other products. The company expects revenue from existing and newly launched products to continue to grow in 2025, while the progress of each product pipeline is also ongoing
According to the Zhitong Finance APP, Zai Lab (09688) announced its annual performance for the year ending December 31, 2024, with total revenue of USD 399 million, an increase of 49.59% year-on-year; R&D expenses amounted to USD 235 million.
The announcement stated that the revenue growth was mainly due to the strong commercialization of Weiwei Jia since its launch in September 2023 and its inclusion in the national medical insurance catalog for the first time in January 2024, resulting in steady sales growth; Zele continued to maintain its leading position in the hospital sales of PARP inhibitors in the field of ovarian cancer; and benefited from the inclusion of the intravenous formulation and oral formulation of Niuzaili for the treatment of CABP and/or ABSSSI in the national medical insurance catalog in January 2023 and January 2024, respectively.
Since the fourth quarter of 2024, with the group's launch of Weili Jia (the subcutaneous formulation of Efgartigimod) for the treatment of gMG and CIDP, Dingyoule for the treatment of HABP and VABP caused by ABC, and Aokail for the treatment of ROS1+ NSCLC in mainland China, the group has seen its commercialization portfolio increasingly strengthened. Aokail was included in the national medical insurance catalog in January 2025. In 2025, the group expects revenue from existing and recently launched commercial products to continue to grow.
The group's product pipelines also continue to make progress. Regarding the group's global assets, the group achieved encouraging results in the global Phase I study of ZL-1310, a targeted DLL3 ADC with the potential to become a first-in-class and best-in-class treatment for extensive-stage small cell lung cancer. Additionally, the internally developed IL13/IL-31R bispecific antibody ZL-1503 for the treatment of atopic dermatitis has also obtained promising preclinical data. For the group's late-stage regional rights pipeline, the group obtained positive data this year, including KarXT for the treatment of schizophrenia, and completed enrollment in the second Phase III study of Bemarituzumab for the treatment of gastric cancer. The group has also expanded and strengthened its product pipeline with global and regional rights through synergistic business development, including a strategic cooperation and global licensing agreement with Yilian Biotechnology to utilize Yilian's TMALIN ADC platform to develop ZL-6201, a novel targeted LRRC15 ADC with the potential to become a first-in-class treatment, discovered by Zai Lab, for specific solid tumors, and a strategic cooperation with Vertex to obtain licensing for povetacicept (a potential best-in-class therapeutic drug for IgAN and other B cell-mediated diseases) in mainland China, Hong Kong, Macau, Taiwan, and Singapore
