Innovent Biopharmaceutical Transformation
2021 Financials: Income Statement
Non-IFRS measure
RMB'million
Revenue
Cost of sales
Gross profit (Non-IFRS)
Research and development expenses
Administrative and other expenses
Selling and marketing expenses
Royalties and other related payments
Year Ended 31 December
2021
%
2020
%
4,260.9 100.0% 2,446.7 100.0%
(455.5) (10.7%) (358.7) (14.7%)
3,805.4 89.3% 2,088.0 85.3%
(2,116.0) (49.7%) (1,717.8) (70.2%)
(640.2) (15.0%) (279.9) (11.4%)
(2,541.3) (59.6%) (1,258.0) (51.4%)
(719.1) (16.9%) (384.1) (15.7%)
1.1%
130.7
45.1
5.3%
(2,166.1) (50.8%) (1,421.1) (58.1%)
Other income-government grants
Operating loss (Non-IFRS)
Other income (excl. Government grants)
Other gains and losses
151.8
(74.4)
3.6%
(1.7%)
116.1
4.7%
(480.0) (19.6%)
Other gains and losses derived from operation of funds
(4.4) (0.1%)
Finance costs
(62.5) (1.5%)
(68.4) (2.8%)
Income tax expense
Loss for the year (Non-IFRS)
Adjustments to IFRS measure
Loss for the year (IFRS)
Note: Numbers may not add due to rounding
Innovent
(87.0) (2.0%) (139.7) (5.7%)
(2,242.6) (52.6%) (1,993.1) (81.5%)
(895.4) (21.0%) 994.6 40.7%
(3,138.0) (73.6%) (998.5) (40.8%)
Confidential
Copyright©2022 Innovent
Revenue
In 2021, we generated total revenue of RMB 4,260.9 million,
including RMB4,001.1 million for product sales; coupled with
RMB259.8 million from License fee income recognized over time.
Expenses
R&D investments were spending on clinical trials of late-stage
and prioritized assets from our robust pipeline globally to further
expand our existing product line's indications as well as
developing new products in our pipe line, including pre clinical
product developments.
The planned increase in S&M expenses was due to broader
commercialisation activities with respect to TYVYTⓇ(sintilimab
injection), BYVASDAⓇ (bevacizumab biosimilar),
SULINNOⓇ(adalimumab biosimilar), HALPRYZAⓇ (rituximab
biosimilar), PEMAZYRE® (Pemigatinib) and Olverembatinib
Non-IFRS loss for the year
Non-IFRS loss for the year was RMB2,242.6 million
IFRS loss for the year
Adjustments to IFRS measure was driven by certain items namely
share-based compensation expenses and license fee income
recognized at a point in time.
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