Grand Pharma 2025 Revenue HKD 12.28B – Innovative Products Hit 50% of Sales, Radiopharma Soars 61%

Grand Pharma 2025 Revenue HKD 12.28B – Innovative Products Hit 50% of Sales, Radiopharma Soars 61%

Grand Pharmaceutical Group Co., Ltd. (HKG: 0512) reported 2025 financial results, with revenue rising 5.5% YoY to HKD 12.28 billion (USD 1.084 billion)14.8% growth excluding VBP impact. The company achieved a transformation milestone as innovative barrier products reached ~50% of revenue (vs. 40% prior year). The radiopharmaceutical oncology segment surged 61.0% to HKD 950 million (RMB 839 million) – a 15-fold increase over four years – anchored by YiGanTai (SIR-Spheres Y-90), now the world’s only FDA-approved dual-indication selective internal radiation therapy for hepatocellular carcinoma (HCC) and colorectal cancer liver metastases.

Financial Highlights

Metric2025 ResultYoY ChangeAdjusted GrowthStrategic Significance
Total RevenueHKD 12.28B (USD 1.084B)+5.5%+14.8% (ex-VBP)VBP headwinds masking underlying innovation strength
Innovative Products~50% of revenue+10pp mix shiftTransformation milestone – majority revenue from innovation
Radiopharma SegmentHKD 950M (RMB 839M)+61.0%15x over 4 yearsHigh-growth engine – oncology diagnosis + therapy
YiGanTai Global PositionDual FDA indications (HCC + CRC liver mets)First and onlyWorld leadership in selective internal radiation therapy

Radiopharmaceutical Pipeline Progress

AssetTarget/Indication2025 MilestoneStrategic Value
YiGanTai (SIR-Spheres Y-90)HCC + colorectal liver metastasesFDA dual approval – world’s firstCommercial anchor – 61% segment growth driver
GPN02006HCC diagnostic RDC – GPC-3 targetDevelopment ongoingWorld’s first GPC-3 HCC diagnostic – imaging companion to YiGanTai
GPN01530FAP-targeting – solid tumorsFDA Phase I/II approvalNext-gen radioligand therapy – broad tumor applicability
TLX591-CDxPSMA-targeting – prostate cancer imagingChina Phase III primary endpoint met; NDA accepted by NMPANear-term China revenue – diagnostic imaging expansion

Strategic Context: Innovation Transformation

FactorImplication
VBP Impact Mitigation14.8% ex-VBP growth demonstrates innovation portfolio resilience vs. generic pricing pressure
Radiopharma DifferentiationTheranostics platform (diagnosis + therapy) – GPC-3 imaging + Y-90 therapy creates integrated HCC management
Global Regulatory LeadershipFDA dual indication for YiGanTai validates world-class development; supports ex-China expansion
Pipeline Depth4 radiopharmaceutical assets in development – sustainable growth engine beyond YiGanTai maturation
Revenue Mix Target50% innovative products achieved; 60%+ target by 2027 via radiopharma and biologics expansion
  • Commercial Timeline: TLX591-CDx China approval 2026; GPN01530 U.S. Phase I/II data 2027; GPN02006 global Phase III 2028
  • Market Positioning: Only China pharma with FDA-approved radiopharmaceutical; theranostics leader vs. Novartis (Pluvicto) and Bayer (Xofigo)

Forward‑Looking Statements
This brief contains forward‑looking statements regarding radiopharmaceutical pipeline progression, NDA approvals, and innovation revenue mix expansion. Actual results may differ due to regulatory review timelines, competitive dynamics in radioligand therapy, and manufacturing scale-up for radioactive isotopes.-Fineline Info & Tech