Hengrui Pharma Reports Steady Growth in the First Nine Months of 2026

EmitenTrust.com - SHANGHAI, Oct. 27, 2026 /PRNewswire/ -- Hengrui Pharma ("Hengrui" or "the Company") today announced its financial results for the first nine months of 2026. During this period, Hengrui reported revenue of RMB24.41 billion, representing a year-over-year increase of 5.26%. Product sales revenue was RMB21.48 billion, up 2.52% year-over-year. Net profit attributable to shareholders of the Company was RMB6.92 billion, up 20.38% year-over-year.

Innovative drug sales reached RMB13.87 billion, representing a year-over-year increase of 17.05% and accounting for approximately 64.59% of total drug sales. Non-oncology innovative drug sales also recorded strong growth, reaching RMB4.01 billion, up 75.36% year-over-year, and accounting for approximately 28.88% of total innovative drug sales. R&D investment totaled RMB7.15 billion, of which RMB5.42 billion was expensed.

In the third quarter of 2026, Hengrui reported revenue of RMB8.95 billion, up 20.55% year-over-year, and net profit attributable to shareholders of the Company of RMB2.46 billion, up 88.92% year-over-year.

Pipeline and Regulatory Highlights

In the third quarter of 2026, Hengrui continued to advance its R&D pipeline in China, obtaining seven innovative drug or indication approvals comprising two Class 1 innovative drugs and five new indications for marketed innovative drugs.

Seven marketing applications were also accepted for review by the Center for Drug Evaluation (CDE) of China's National Medical Products Administration, covering oncology, metabolic and cardiovascular diseases, immune system diseases, and neuroscience. Notably, the Company made multiple advancements across the GLP-1 class product pipeline. The new drug applications (NDAs) for HRS-7535 tablets, an oral small-molecule GLP-1 receptor agonist, for glycemic control in adults with type 2 diabetes mellitus and for long-term weight management in adults have both been accepted for review. The NDA for ribupatide injection, a GLP-1/GIP dual receptor agonist for glycemic control in adults with type 2 diabetes mellitus, has also been accepted for review.

In addition, a total of 35 clinical trial approvals were obtained. Two products have been granted Breakthrough Therapy Designation by the CDE.

Global Partnerships and Business Development

In the first nine months of 2026, the Company recorded revenue of RMB2.78 billion from the out-licensing of innovative drugs, up 31.12% year-over-year. Hengrui also received a total of RMB4.34 billion in cash from upfront and milestone payments under collaboration agreements, primarily comprising the US$600 million upfront payment from Bristol Myers Squibb.

On September 29, Hengrui entered into a license agreement with Novo Nordisk (Novo) for HRS-1596, a phase I-ready glucagon-like peptide-1 receptor (GLP-1R) and gastric inhibitory polypeptide receptor (GIPR) dual agonist, with potential for once-weekly oral dosing. Under the terms of the agreement, Novo will obtain exclusive rights to develop, manufacture and commercialise HRS-1596 globally, excluding the Chinese mainland, the Hong Kong SAR, the Macao SAR and Taiwan Region. The potential total value of the agreement is up to US$2.6 billion contingent on the achievement of applicable development, regulatory and commercial milestones. This includes a US$300 million upfront payment. In addition, Hengrui is eligible to receive royalties based on net sales of HRS-1596 within the licensed territory. The transaction is expected to close in the fourth quarter of 2026.

Scientific Recognition

Since the start of the second half of 2026, multiple research findings on Hengrui's innovative drugs have been presented at international academic conferences and published in academic journals. More than 60 studies involving 21 innovative drugs were selected for presentation at the European Society for Medical Oncology Congress 2026, including Phase III studies of two innovative antibody-drug conjugates selected for Proffered Paper presentations. Research in non-oncology areas was also presented at major international congresses, including the Annual Meeting of the European Association for the Study of Diabetes and the European Academy of Dermatology and Venereology Congress, among others.

Outlook

Looking ahead, Hengrui will continue to advance its innovation and globalization strategy, further pursuing its dual-growth strategy across oncology and chronic diseases. Guided by its patient-focused philosophy, Hengrui remains committed to bringing more innovative medicines to patients worldwide.

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SOURCE Hengrui Pharma