Hengrui Medicine stock: Q3 profit climbs as licensing income grows

Hengrui Pharma reported a sharp increase in third-quarter profit on Tuesday, October 27, 2026, as licensing income and innovative medicines strengthened the Chinese drugmaker's growth profile. The figures were published in a PR Newswire release carried by Yahoo Finance.

Quarterly profit accelerates

For the three months ended September 30, revenue reached 8.95 billion renminbi, up 20.55 percent year over year. Net profit attributable to shareholders rose 88.92 percent to 2.46 billion renminbi.

For the first nine months, revenue increased 5.26 percent to 24.41 billion renminbi, while net profit attributable to shareholders climbed 20.38 percent to 6.92 billion renminbi. Product sales grew 2.52 percent to 21.48 billion renminbi.

Innovation moves beyond oncology

Innovative drug sales rose 17.05 percent to 13.87 billion renminbi and represented 64.59 percent of total drug sales. Non-oncology innovative drug sales increased 75.36 percent to 4.01 billion renminbi, highlighting a broader contribution from metabolic, cardiovascular, immune-system and neuroscience programs.

Hengrui said it received approval for seven innovative drugs or new indications during the quarter. Chinese regulators also accepted seven marketing applications, including applications for the oral GLP-1 candidate HRS-7535 and the GLP-1/GIP candidate ribupatide.

Licensing supports global expansion

Licensing revenue from innovative drugs rose 31.12 percent to 2.78 billion renminbi in the first nine months. Hengrui also received 4.34 billion renminbi in upfront and milestone payments, primarily including a 600 million US dollar upfront payment from Bristol Myers Squibb.

Under a September agreement, Novo Nordisk received exclusive rights outside Greater China for HRS-1596, an oral GLP-1/GIP dual agonist. The deal could be worth up to 2.6 billion US dollars, including a 300 million US dollar upfront payment, subject to development, regulatory and commercial milestones.

Business and competitive setting

Jiangsu Hengrui Pharmaceuticals develops, manufactures and markets pharmaceutical products, with activities spanning innovative medicines and generic drugs. Its current development focus includes oncology as well as metabolic, cardiovascular, immune-system and neuroscience treatments. The company is using licensing partnerships and a broader clinical pipeline to expand its international reach.

Investors can follow broader China market developments through the Shanghai Composite market coverage.

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