3SBio Inc (1530 HK)'s core products have dominant market share in their respective therapeutic areas, lending a favorable financial profile to the company to fund its R&D and commercialization efforts.
Flagship drug, TPIAO remained resilient to the COVID-19 and clocked a revenue CAGR of 32% during 2016–2021. Low penetration of TPIAO’s targeted indications leaves further room for its growth.
Haircare product Mandi has high market share of 70%+ and clocked 64% y/y revenue growth in 2021. 3SBio aims to launch Mandi foam, which will further sharpen its competitive edge.
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