Global Healthcare Analyst

Tina Banerjee

Equity research analyst having 15+ years of experience, with an interest on fundamentally strong global healthcare companies. I have been helping investors to find future winners in healthcare space to grow their wealth by focusing on the strength and potential of the business models of the companies. My initiating coverage reports and pitch help investors to know ‘what to buy’, ‘why to buy’, and ‘when to buy’. My clients always remain on top of the sector with the help of my timely and detailed notes on earnings or any news update. I also provide broader view on the entire healthcare sector through periodic thematic reports.

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Jiangsu Hengrui (HK 1276): Begins 2026 On a Positive Note With Retlirafusp Approval; More to Follow

Equity Bottom-Up

Jiangsu Hengrui Pharmaceuticals / Equity Bottom-Up

Jiangsu Hengrui Pharmaceuticals (1276 HK)

<ul>
<li>In 2025, <a href="https://www.smartkarma.com/entities/jiangsu-hengrui-pharmaceuticals-co-ltd" target="_blank" data-smartkarma-citation="entities:44224:1" rel="noopener">Jiangsu Hengrui Pharmaceuticals (1276 HK)</a> reported 13% YoY revenue rise to RMB 31.6B primarily attributable to the growth of innovative drugs sales along with increase in licensing revenue.</li>
<li>R&amp;D expenses increased 6% to RMB 6.9B due to ongoing clinical trials. Net profit increased by 22% to RMB 7.7B resulting in net margin expanding 180bps to 24.4% in 2025.</li>
<li>In 2026, Hengrui targets growth of over 30% in innovative drugs sales. Over the next three years (2026-2028), company expect approximately 53 innovative products and indications to receive regulatory approvals.</li>
</ul>


In 2025, Jiangsu Hengrui Pharmaceuticals (1276 HK) reported 13% YoY revenue rise to RMB 31.6B primarily attributable to the growth of innovative drugs sales along with increase in licensing revenue.
R&amp;D expenses increased 6% to RMB 6.9B due to ongoing clinical trials. Net profit increased by 22% to RMB 7.7B resulting in net margin expanding 180bps to 24.4% in 2025.
In 2026, Hengrui targets growth of over 30% in innovative drugs sales. Over the next three years (2026-2028), company expect approximately 53 innovative products and indications to receive regulatory approvals.


Jiangsu Hengrui (1276 HK): 2025 Robust and Balanced, Innovative Drugs Hold Key to Future Growth