Henlius Posts Strong 2025 Growth Amid Global Expansion Push
Event summary
- Henlius reported RMB 6.67 billion in revenue for 2025, up 16.5% YoY, with net profit of RMB 827 million.
- Ex-China product revenue doubled to exceed RMB 200 million, driven by serplulimab and HANQUYOU (trastuzumab).
- R&D investment surged 35.4% to RMB 2.49 billion, supporting a pipeline of over 50 early-stage innovative assets.
- Serplulimab's global sales reached RMB 1.49 billion, with approvals expanding in Europe and emerging markets.
The big picture
Henlius' 2025 results reflect its strategic shift toward global expansion, with a focus on regulatory approvals and pipeline innovation. The company's ability to scale its ex-China business while maintaining robust R&D investment positions it competitively in the biopharmaceutical sector. Its success hinges on executing its 'Globalisation 2.0' strategy amid evolving market dynamics.
What we're watching
- Regulatory Milestones
- Whether Henlius can secure additional approvals for serplulimab in the U.S. and EU by 2026, accelerating its global commercial potential.
- Pipeline Progress
- The pace at which HLX43 (PD-L1-targeted ADC) advances through clinical trials, given its broad anti-tumour activity across multiple tumour types.
- Market Penetration
- How Henlius sustains ex-China revenue growth amid increasing competition in biosimilars and innovative biologics.
Related topics