By Fineline Cube 
Everest Medicines Limited (HKG: 1952) released unaudited interim financial results for the six months ended 30 June 2025.
Revenue & Profit Highlights
| Metric | 1H 2025 | YoY % Change |
|---|---|---|
| Revenue | RMB 446.1 m | +48.0 % |
| R&D Expenses | RMB 195.2 m | ‑22.1 % |
| Net Loss | RMB 249.8 m | ‑60.3 % |
The 48 % revenue jump was driven by a sustained ramp‑up of the company’s three commercialized products: NEFECON (budesonide for IgA nephropathy), XERAVA (eravacycline, a novel antibiotic), and VELSIPITY (etrasimod, an S1P receptor modulator).
Strategic Milestones
- NEFECON
- Full approval by the China NMPA in May 2025, independent of proteinuria levels.
- Official pricing under the 2025 National Reimbursement Drug List (NRDL), expanding access to IgAN patients nationwide.
- VELSIPITY
- Approved in multiple countries and regions.
- Localized production launched at Jiashan factory (March 2025).
- Investment of RMB 70 m; projected annual capacity of 50 million tablets once fully operational.
- XERAVA
- Continued commercial roll‑out in key anti‑infectives markets.
R&D & Cost Management
Everest reduced R&D spend by 22 % (RMB 195.2 m vs. RMB 253.2 m in 2024H1) by concentrating resources on core pipeline breakthroughs. The disciplined cost structure helped shrink the net loss from RMB 632.4 m to RMB 249.8 m, reflecting stronger product sales and improved operational efficiency.
Outlook
With NEFECON’s NRDL entry, VELSIPITY’s robust production pipeline, and XERAVA’s expanding anti‑infective footprint, Everest Medicines is positioned to sustain revenue momentum while continuing to optimise its R&D portfolio for long‑term growth.-Fineline Info & Tech