Shenzhen Salubris Pharmaceuticals Co., Ltd. (SHE: 002294), a pioneer in cardiorenal metabolic syndrome treatment in China, has submitted its IPO prospectus to the Hong Kong Stock Exchange, pursuing a secondary listing to accelerate innovative drug commercialization and expand global investor access. The company has transformed from generics to innovation, with six approved innovative drugs driving 51.6% of pharmaceutical sales in 9M 2025—up from 35.5% in the prior year.
51.6% innovative revenue surpasses most domestic Chinese pharma; NRDL pricing power and market exclusivity vs. volume-based procurement pressure on generics
Hong Kong Listing Rationale
Dual listing premium; international institutional investor access; currency diversification; M&A currency for global expansion
Competitive Landscape
AZ Fosinopril, Novo Nordisk diabetes franchise, Bayer Xarelto; Salubris domestic innovation positioning captures policy support and physician preference
Forward‑Looking Statements This brief contains forward‑looking statements regarding Salubris Pharmaceuticals’ Hong Kong IPO completion, innovation revenue growth sustainability, and cardiorenal metabolic market share expansion. Actual results may differ due to HKEX approval timelines, NRDL pricing negotiations, and competitive dynamics with multinational cardiovascular franchises.-Fineline Info & Tech
By Fineline Cube 