By Fineline Cube 
Jiangsu Hengrui Pharmaceuticals Co., Ltd. (HKG: 1276, SHA: 600276) has released its 2025 semi-annual report, highlighting a 15.88% year-on-year (YOY) revenue increase to RMB 15.76 billion and a 34.63% YOY rise in total profit to RMB 5.05 billion.
Innovative Drug Revenue Growth
In the first half of the year, sales and licensing revenue from innovative drugs reached RMB 9.561 billion, accounting for 60.66% of total revenue. Sales revenue from innovative drugs grew rapidly to RMB 7.570 billion. Licensing revenue included a USD 200 million upfront payment from Merck Sharp & Dohme and USD 75 million from IDEAYA Biosciences.
Generic Drug Sales and Network Expansion
Despite a slight decline in VBP-included generic drug sales, high-quality generics such as bupivacaine liposome and the first U.S.-approved nab-paclitaxel generic experienced rapid growth. Overall generic drug revenue saw a slight increase.
Commercialization Network
Hengrui’s commercialization network covers over 25,000 hospitals across more than 30 provinces in China and over 200,000 offline retail pharmacies. The company’s professional prescription drug sales team also covers major online pharmacy platforms. Its Direct-to-Patient (DTP) team has exceeded 1,500 community terminal locations and conducted nearly 20,000 doctor visits, significantly enhancing grassroots brand influence.-Fineline Info & Tech