France suspends Conbercept ophthalmic injection KHB-1802 project, Kanghong Pharmaceutical's stock price fluctuations

On the evening of March 28, Kanghong Pharmaceutical issued an announcement stating that the French National Agency for the Safety of Medicines and Health Products (hereinafter referred to as ANSM) has currently suspended "a multi-center, double-blind, randomized, dose range trial to evaluate conbercept eye The efficacy and safety of injection in the treatment of patients with neovascular age-related macular degeneration" Clinical Trial Project Trial 2 (KHB-1802).

In the announcement, Kanghong Pharmaceutical did not indicate the reason for the suspension of the trial.

Medical insurance price cuts, Conbercept's domestic performance began to be limited

It is reported that Conbercept ophthalmic injection is a category 1 biological innovation drug with completely independent intellectual property rights independently developed by the company's wholly-owned subsidiary Kanghong Biological.

Conbercept ophthalmic injection has been approved by China's National Food and Drug Administration (NMPA) on November 27, 2013 for the treatment of wet age-related macular degeneration (nAMD) in China.

From its listing in 2014 to the first half of 2020, Compaq's revenue reached 3.

However, with the price cut of medical insurance, Conbercept's sales have been affected to a certain extent.

Competitive products performed well in the international market, and Compaq went overseas to gain market share

According to Global Data data, the global sales of two competing products, aflibercept (regeneron) and ranibizumab (Novartis) of Kanghong Pharmaceutical Conbercept ophthalmic injection, in 2019 were US$7.

In order to strive for a larger market share, Conbercept ophthalmic injections have begun a "going overseas" plan.

In October 2016, Kanghong Bio was approved by the US FDA to directly carry out the phase III clinical trial of Conbercept ophthalmic injection for the treatment of wAMD (neovascular age-related macular degeneration) indications in the United States.

In December last year, Kanghong Pharmaceutical issued a fixed increase plan.

However, the road to internationalization is not smooth, not to mention the complexity and hardship of the product itself in the foreign market.

Moreover, as the next-generation product of aflibercept, Novartis’ ophthalmic drug Brolucizumab was approved by the FDA in 2019 for the treatment of age-related wet macular degeneration (AMD), which intensified the fierce competition in the international market, which also caused Compaq Xipu's desire to "get a piece of the pie" in the international market is even more bumpy.

In addition, Roche's Faricimab is progressing relatively quickly.

How should the next move of Compaq's internationalization process go?

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