Jiangsu Hengrui Pharmaceuticals (01276) leads performance growth with sales of innovative drugs. The net profit attributable to shareholders in the first half of the year was 4.45 billion yuan, a year-on-year increase of 29.7%.

Jiangsu Hengrui Pharmaceuticals (01276) announced its performance for the mid-year of 2025, with revenue of approximately RMB 15.761 billion, a 15.9% increase from the same period last year; net profit attributable to company shareholders was RMB 4.45 billion, a 29.7% increase from the same period last year; basic earnings per share was RMB 0.70. The announcement stated that the increase in revenue and profit was mainly driven by the increase in sales of innovative drugs and licensing income. Sales of innovative drugs and licensing income were RMB 9.561 billion, a 26.8% increase from the same period last year, accounting for 60.7% of total revenue, with sales of innovative drugs totaling RMB 7.57 billion. Innovative drugs such as Riruximab, Darsicil, and Hengellejing accurately target unmet clinical needs within the medical insurance system, and their excellent clinical data has been widely validated in practice. Their clinical value has been continuously recognized by doctors and patients, leading to continued rapid revenue growth. Early-marketed innovative drugs such as Ertaib, Rimazolam, Pirtinib, and Fluzaparib have seen their application scope expand continuously as accumulating evidence from post-marketing studies and ongoing approvals for new indications contribute to incremental sales revenue for the company. Innovative products such as Apatinib, Sulforaphygesine, and Hequpopa also achieved certain growth during the reporting period. Furthermore, some of the company's innovative products have not yet fully realized their sales potential due to factors such as their recent market entry or lack of inclusion in medical insurance, and the company will continue to lead with medical and market insights, promote the widespread use of new products, accelerate the commercialization process of high-quality innovative products, aiming to contribute stronger growth momentum to the company in the future. Licensing of innovative drugs as a regular business operation has become a significant part of the company's revenue. During the reporting period, the company received $200 million from Merck Sharp & Dohme and $75 million from IDEAYA Biosciences as upfront payments for licensing, which were recognized as revenue, further driving the growth of operational performance indicators. In addition, although sales revenue from generic drugs included in centralized procurement has slightly declined, sales revenue from high-quality generic products such as Bupivacaine Liposomes and the US-approved first generic version of Albumin-bound Paclitaxel for injection achieved rapid growth during the reporting period, leading to a slight increase in overall sales revenue from generic drug business.