CSPC Once Again Listed in China's Top 500 Private Enterprises

On September 12, 2023, the China Top 500 Private Enterprises Summit 2023 was held in Jinan, Shandong Province. The All-China Federation of Industry and Commerce unveiled the list of "China's Top 500 Private Enterprises in 2023" during the summit. 

CSPC Pharmaceutical Group Limited (CSPC) was once again included in the list, ranking 269th. 

As revealed by the Investigation and Analysis Report of China's Top 500 Private Enterprises in 2023, the listed private enterprises grew steadily in scale and continued optimizing the industrial structures with increasing investment in R&D activities. Among them, there are 175 and 151 enterprises with R&D employees accounting for more than 10% and 3%-10% of their total workforce, respectively, increased by 17 and 21 enterprises over the last year. 8 enterprises are investing more than 10% of their total input in R&D spending, and 78 enterprises with R&D expenditure accounting for 3%-10% increased by 2 and 4 enterprises correspondingly compared to the previous year. 

Led by the ideology of innovation, CSPC constantly develops and promotes the transformation and application of scientific research achievements to benefit the majority of patients. In the first half of 2023, CSPC's R&D investment reached 2.304 billion yuan (included in the income statement), witnessing an increase of 22.3% year-on-year, accounting for about 17.8% of the income from the patent medicine business. Currently, more than 2000 researchers are working in CSPC. 

In March 2023, SYS6006, a COVID-19 mRNA vaccine independently developed by CSPC, was approved for marketing, which was the first mRNA vaccine approved for use in China. The key raw materials and excipients for the vaccine are produced independently, and other excipients are homemade, thus breaking the stranglehold on supplies by foreign countries and having a far-reaching significance for the vaccine innovation in China. 

In September 2023, the National Medical Products Administration (NMPA) approved a Biologics License Application (BLA) submitted by CSPC for JMT103, a class 1 new drug for giant cell tumor of bone that is unresectable or associated with severe dysfunction by excision. This is the first fully humanized IgG4 monoclonal antibody targeting RANKL approved for marketing worldwide.

CSPC has more than 300 ongoing projects and plans to bring more than 40 innovative drugs and formulations to the market in the next five years. The enterprise will continue increasing R&D spending, accelerate the implementation of the innovation-driven development strategy, uphold the principle of people and life above all else, and develop and produce more "China-made drugs" suitable for Chinese genes and physical characteristics. 

In addition, CSPC was also included in the 2023 list of China's Top 500 Private Manufacturing Enterprises, ranking 187th.