Business
Innovent Announces 2024 Annual Results and Business Updates
Innovent Biologics, Inc. (Innovent) (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high-quality medicines for the treatment of cancer, cardiovascular and metabolic, autoimmune, ophthalmology and other major diseases, announces its 2024 annual results, including major business updates, financial performance and the strategy and outlook for 2025 and beyond.
About this update from Innovent Biologics, Inc.
[{"type":"text","content":"First-ever positive profit, entering a new era of growth and global innovation","length":78,"tagName":"p","attribs":{}},{"type":"text","content":"SAN FRANSISCO and SUZHOU, China, March 26, 2025 /PRNewswire/ -- Innovent Biologics, Inc. (Innovent) (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high-quality medicines for the treatment of cancer, cardiovascular and metabolic, autoimmune, ophthalmology and other major diseases, announces its 2024 annual results, including major business updates, financial performance and the strategy and outlook for 2025 and beyond.","length":486,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/Innovent Biologics)","displaySize":"","headline":null,"caption":"(PRNewsfoto/Innovent Biologics)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":223,"url":"https://media.zenfs.com/en/prnewswire.com/262910205bf819f974b393872fec06f8"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/8GwHLHGLtxNAAiVaBQORXg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTM5MztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/262910205bf819f974b393872fec06f8","width":400,"height":223}},"href":"https://mma.prnewswire.com/media/2650680/image_5002022_23084652.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Dr. Michael Yu, Founder, Chairman and CEO of Innovent, stated: "2024 marked a year of historic milestones—Innovent's Non-IFRS net profit and EBITDA both turned positive for the first time, underscoring our strategic excellence and execution as a pioneer in sustainable biopharmaceutical operations. Meanwhile, we achieved record revenue, expanded our robust product portfolio to 15 approved products and delivered all late-stage development milestones to secure sustained growth momentum. We are also advancing breakthrough innovations in our early-stage pipeline for global opportunities while strengthening both global and local partnerships to accelerate innovation and growth.","length":694,"tagName":"p"},{"type":"text","content":"With a clear strategy outlined above and a strong track record of execution, we are laying a solid foundation to enter a new phase of growth and global innovation. In the coming years, we aim to achieve RMB20bn product revenue in 2027 and advance five pipeline assets to the global ...