Hengrui Pharma lifts nine-month profit 20.4% on out-licensing gains
China's Hengrui Pharma posted 5.3% revenue growth and 20.4% profit growth for nine months, Reuters reported, citing LSEG and company data.
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what happened
Jiangsu Hengrui Pharmaceuticals grew revenue 5.3% year on year in the first nine months, to RMB 24.41 billion. Net profit attributable to shareholders rose 20.4%, to RMB 6.92 billion. The company credited higher out-licensing income, including milestone payments from GSK and BMS, for most of the gain.
Sales of innovative drugs rose, led by non-oncology products, but growth fell short of expectations because of slower hospital access and tougher competition. Generic drug revenue dropped 16.4%, hit by centralized procurement. The company now expects full-year innovative drug growth below its initial target and plans to speed up market access in the fourth quarter.
Reuters, citing LSEG data, reports that the average analyst rating on the shares is buy, and the median 12-month target is HK$73.18, against a October 26 close of HK$47.14.
why it matters
The story concerns one company, but it shows how Chinese drugmakers are leaning on licensing deals while domestic sales face procurement pressure and rivalry. For investors in Hong Kong-listed pharma, it is a signal about the quality of profit growth.
market impact
China pharma: licensing income lifts profit, while domestic sales lag
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- China's Hengrui Pharma nine-month profit rises on out-licensing gains — Reuters, 27 October 2026 at 08:41 UTC
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