Zai Lab (NASDAQ: ZLAB, HKG: 9688) announced Q4 and full‑year 2025 financial results, with net product revenue reaching USD 457.2 million (up 16% YoY). The growth was primarily driven by increased sales volumes of Xacduro (durlobactam/sulbactam) and Nuzyra (omadacycline), alongside steady performance from the PARP inhibitor franchise.
Financial Performance Summary
Metric
Q4 2025
Full‑Year 2025
YoY Growth
Net Product Revenue
USD 127.1 M
USD 457.2 M
+16% (CER)
Core Product Performance
Product
Q4 2025 ($M)
FY 2025 ($M)
Key Highlights
Zejula (niraparib)
56.0 (+16%)
189.0
Hospital sales leader among PARP inhibitors for ovarian cancer in China despite competition
Oncology Leadership:DLL3 ADC (zoci) advances to pivotal studies across small cell lung cancer (SCLC) and neuroendocrine carcinomas, positioning Zai Lab in high‑unmet‑need tumor types.
Immunology Expansion:IL‑13/IL‑31 bispecific targets atopic dermatitis and pruritus; FIH data will inform differentiation vs. existing IL‑13/IL‑31 programs.
Novel Modalities: Investment in T‑cell engagers and immunocytokines beyond IL‑12 diversifies pipeline beyond traditional antibodies and ADCs.
China Commercial Execution: Zejula maintains PARP inhibitor leadership despite competitive pressure; Xacduro and Nuzyra demonstrate launch execution capabilities.
Market Context
Factor
Impact
China Biotech Revenue Growth
16% growth in challenging pricing environment demonstrates commercial resilience
Forward‑Looking Statements This brief contains forward‑looking statements regarding 2026 revenue guidance, pipeline milestone achievement, and clinical data readouts. Actual results may differ due to risks including competitive dynamics, clinical trial enrollment challenges, and reimbursement negotiations.-Fineline Info & Tech
By Fineline Cube