Viva Biotech Reports Strong 2024 Financial Performance

Viva Biotech has announced its 2024 financial results, showcasing a significant rebound in performance. The company reported a revenue of RMB1,986.7 million and a net profit of RMB222.0 million, a notable improvement from the previous year's net loss of RMB99.8 million. This turnaround was largely attributed to the elimination of financial adjustments following the repayment of convertible bonds and an increase in operating profit margin, as stated in a press release.

The company's Contract Research Organization (CRO) business saw a recovery in the second half of 2024, despite a 4% decrease in revenue to RMB810.9 million for the year. The recovery was driven by a resurgence in global biopharmaceutical investment and financing, leading to positive growth in CRO order values.

Viva Biotech's subsidiary, Langhua Pharmaceutical, also contributed to the positive results, recording a revenue of RMB1,175.7 million. The company is preparing for the commercial launch of new molecules, which are expected to drive future growth.

The company emphasized the role of artificial intelligence in its drug research and development processes, participating in 157 AI-driven drug discovery projects by the end of 2024. Revenue from AI-enabled projects exceeded US$10 million, highlighting the growing importance of AI in Viva Biotech's operations.