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- Revenue of the Group for the year ended December 31, 2021 was approximately US$511.1 millionrepresenting an increase of 30.8% as compared with approximately US$390.8 million for the year ended December 31, 2020among which, the external revenue for non-cell therapy business was approximately US$424.7 millionrepresenting an increase of 34.8% as compared with approximately US$315.1 million for the year ended December 31, 2020and the external revenue for cell therapy business was approximately US$86.4 millionrepresenting an increase of 14.1% as compared with approximately US$75.7 million for the year ended December 31, 2020.
- The adjusted net profit of non-cell therapy business before eliminations was approximately US$50.2 millionrepresenting an increase of 18.1% as compared with approximately US$42.5 million for the year ended December 31, 2020and the adjusted net loss of cell therapy business before eliminations was approximately US$354.6 millionwhilst the adjusted net loss of cell therapy business was approximately US$213.3 million for the year ended December 31, 2020.
- Gross profit of the Group for the year ended December 31, 2021 was approximately US$303.5 millionrepresenting an increase of 18.6% as compared with approximately US$255.9 million recorded for the year ended December 31, 2020among which, the gross profit of non-cell therapy business before eliminations was approximately US$223.4 millionrepresenting an increase of 17.7% as compared with approximately US$189.8 million for the year ended December 31, 2020and the gross profit of cell therapy business before eliminations was approximately US$89.8 millionrepresenting an increase of 18.6% as compared with approximately US$75.7 million for the year ended December 31, 2020.
- During the Reporting Period, the Group invested significantly into research and development activities as well as talent recruitment, both of which are key drivers for a sustainable business growth in the long run. For the year ended December 31, 2021the Group’s research and development expenses was approximately US$358.4 millionrepresenting an increase of 36.1% as compared with approximately US$263.4 million for the year ended December 31, 2020in which the total investment in research and development was approximately US$313.3 million on cell therapy for the year ended December 31, 2021representing an increase of 34.9% as compared with approximately US$232.2 million for the year ended December 31, 2020.
NANJING, China, March 20, 2022 /PRNewswire/ — GenScript Biotech, the world’s leading biotech company, today announces its annual results as of December 31, 2021.
“2021 is a pivotal year for GenScript. Our continuous investments in innovation and optimization of current business portfolio over the past few years lead to encouraging results.”, said Dr. Patrick LiuRotating CEO of GenScript. “In the life science segment, we are pushing forward our business through automation and industrial-scale production. In the emerging gene and cell therapy CDMO segment, GenScript ProBio achieved explosive revenue growth thanks to strategic investment, advanced platforms and high quality standards. Bestzyme reached breakeven, which is made possible by business optimization and product innovation. With continued investment in synthetic biology, Bestzyme will further unfold its potential in the future. In early 2022, our subsidiary Legend Biotech, an innovative cell therapy company, together with our partner J&J, successfully commercialized CarvyktiTMwhich is a monumental event for the cell therapy industry and demonstrates innovation capabilities of China’s biopharmaceutical industry. Looking ahead, GenScript Group will continue investment in innovation capabilities to address challenges in the fields of gene and cell therapy and synthetic biology. We will stay committed to our mission to “make people …
Full story available on Benzinga.com
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