Gyre Pharmaceuticals Co Ltd, also known as Beijing Continent, a Beijing-based innovative drug manufacturer for organ fibrosis, will deploy more resources to develop drugs related to liver fibrosis and will continue to acquire high-quality drug companies to remain competitive in the market, said its top executive.

In addition to focusing on the development and commercialization of hydronidone for the treatment of metabolic dysfunction associated steatohepatitis, the company said as of now, there are no approved new drugs globally that specifically target liver fibrosis, indicating a significant unmet medical need in this area.

Gyre Pharmaceuticals hopes that, upon market launch, its new product will enjoy an extended period of market exclusivity and sustain continued sales growth.

China is a major country afflicted by liver diseases, and liver fibrosis, a result of all chronic liver conditions, ultimately progresses to cirrhosis. This progression - from compensated to decompensated stages, and even to liver cancer - severely threatens the health of the Chinese population, said Ye Weiguo, the company's chief operating officer.

"Currently, there are no chemicals or biological treatments specifically for liver fibrosis available globally, representing a significant unmet clinical need," said Ye, adding the company will also continue to work on introducing drugs in the field of rare diseases, bringing new treatment options to more patients with rare diseases.

As of 2022, the national market size for idiopathic pulmonary fibrosis (IPF) drugs has reached $127 million, and it is expected to grow to $700 million by 2031. There remains a significant clinical gap that urgently needs to be addressed in the future, data from global consultancy Frost & Sullivan showed.

Highlighting that the concept of new quality productive forces is fully in line with Gyre Pharmaceuticals' growth strategy, Ye said the company will continue to increase investment in new drug development and consistently utilize emerging technologies and new materials to enhance the efficacy and safety of medications.

For instance, in the area of technical diagnostics, the company will support the activities of using AI to identify changes in lung function from CT scans of the chest, attempting to replace pulmonary function tests to diagnose whether a patient has IPF.

New quality productive forces represent advanced productivity freed from traditional economic growth modes and productivity development paths. They feature high-tech, high efficiency and high quality, and are in line with the new development philosophy.

Eager to maintain robust growth in the market, the company, with two plants in Beijing and Cangzhou, Hebei province, invested 104 million yuan ($14.4 million) in research and development activities in 2023, accounting for 13 percent of annual sales revenue.