Domestic and Global Pharma Q3 Earnings Reports; InnoCare's ADC Drug ICP-B794 Administered to First Patient | Weekly Medical News Roundup

Li Jiaying By interns: Chen Chuan, Zheng Ao, He Duo

Financial Report Information

Novartis Announces Third Quarter 2025 ResultsFinancial Report Performance

On October 28, Novartis released its third-quarter 2025 financial report on its official website. The report showed that Novartis generated $13.9093 billion in revenue in Q3, a year-on-year increase of 7%. Cumulative revenue for the first three quarters reached $41.196 billion, up 11% year on year. Key growth-driving drugs included Kislali, Cosentyx, Pluvicto, and Beiqinli. In the first nine months of 2025, Novartis’s best-selling drugs—Entresto, Cosentyx, and Kisqali—achieved sales of $6.495 billion, $4.861 billion, and $3.462 billion, respectively. During the third quarter, Novartis continued to focus on products in the cardiovascular, immunology, and neurodegenerative disease areas through acquisitions such as Tourmaline Bio and expanded collaborations with Monte Rosa Therapeutics and Arrowhead Pharmaceuticals.

Takeda Reports First-Half Fiscal Year 2025 Results; Business Fundamentals Progressing as Planned

On October 30, Takeda Pharmaceutical Company Limited announced its financial results for the first half of fiscal year 2025 (the six months ended September 30, 2025) and updated its full-year outlook.

The report shows that first-half revenue decreased by 3.9% on a constant currency basis and by 6.9% on an actual exchange rate basis, primarily due to the impact of generic competition for Vivance® and adverse foreign exchange movements. Core operating profit declined by 8.8% on a constant currency basis, reflecting revenue performance and changes in product mix, with improved operational efficiency partially offsetting the negative impact. Reported operating profit for the first half (down 27.7% on an actual exchange rate basis) was affected by impairment losses incurred in the second quarter.

BMS Announces Third Quarter 2025 Financial Results

On October 30, BMS announced its financial results for the third quarter of 2025. The report showed that BMS’s Q3 revenue reached $12.222 billion, a year-on-year increase of 3%. Among this, sales from the “Growth Portfolio” amounted to $6.1 billion, representing an 18% year-on-year growth. In terms of core products, within oncology, global sales of Opdivo (nivolumab) reached $2.532 billion, up 7% year on year; hematology product Reblozyl (luspatercept) recorded sales of $615 million, a 37% year-on-year increase; and in cardiovascular products, Eliquis (apixaban) generated sales of $3.746 billion, rising 25% year on year. In the report, BMS raised its 2025 revenue guidance to $47.5–48 billion.

AbbVie Announces Third Quarter 2025 Financial Results

On October 31, AbbVie released its third-quarter 2025 financial results on its official website. Global net revenues for the third quarter totaled $15.776 billion, representing a 9.1% increase on a reported basis and an 8.4% increase on an operational basis. The immunology portfolio remained the core revenue driver, with net revenues of $7.885 billion, up 11.9% on a reported basis. Neuroscience was AbbVie’s fastest-growing business segment, with global net revenues of $2.841 billion, reflecting a 20.2% growth on a reported basis. During the quarter, AbbVie completed the acquisition of Capstan Therapeutics and acquired bretisilocin, the core product of Gilgamesh Pharmaceuticals.

# Transaction and Financing Trends

Johnson & Johnson Partners with NVIDIA to Advance Development of MONARCH™ Urology Platform

On October 28, Johnson & Johnson’s official website announced that Johnson & Johnson MedTech has made progress in the development of AI-driven robotic systems. Through its collaboration with NVIDIA Isaac for Healthcare, Johnson & Johnson MedTech can leverage the NVIDIA Omniverse library to create high-fidelity digital twin models and develop applications capable of simulating system performance in the operating room and within the patient’s body. Furthermore, synthetic data generated by NVIDIA Cosmos, a world foundation model, can refine the entire simulation system with high-precision physical data. The MONARCH urology platform represents the latest innovation in robot-assisted urological surgery and is expected to launch in the United States in 2026.

New Drug Developments

BMS Announces Results from Two Studies on Deucravacitinib

On October 27, Bristol Myers Squibb (BMS) released the 52-week data from the pivotal Phase 3 POETYK PsA-1 trial on its official website, further confirming the efficacy and safety of deucravacitinib in adult patients with active psoriatic arthritis (PsA) who had not previously been treated with biologic disease-modifying antirheumatic drugs (bDMARDs). The company also announced comprehensive analysis results from the Phase 2 PAISLEY-SLE study and the PAISLEY long-term extension (LTE) study, supporting the safety and efficacy of deucravacitinib for the treatment of moderate-to-severe systemic lupus erythematosus (SLE) for up to four years.

Financial Report Information

WuXi AppTec Releases Q3 2025 Financial Report, Announcing Double-Digit Growth in Revenue and Profit for the First Three Quarters of 2025

On October 26, WuXi AppTec released its performance report for the first three quarters of 2025. The report showed that the company’s total revenue in the third quarter reached RMB 12.06 billion, a year-on-year increase of 15.3%; among this, revenue from continuing operations amounted to RMB 12.04 billion, up 19.7% year on year. For the first three quarters, the company’s total operating revenue was RMB 32.86 billion, representing an 18.6% year-on-year increase.

Fosun Pharma Releases 2025 Q3 Report: Innovative Drug Revenue Exceeds RMB 6.7 Billion

On October 28, Fosun Pharma announced its third-quarter report for 2025. In the first three quarters of 2025, Fosun Pharma achieved operating revenue of RMB 29.393 billion and net profit attributable to shareholders of the parent company of RMB 2.523 billion, representing a year-on-year increase of 25.5%. Revenue from innovative drugs grew steadily, exceeding RMB 6.7 billion in the first three quarters of 2025, a year-on-year increase of 18.09%, with continuous optimization of the revenue structure.

Junshi Biosciences Releases Q3 2025 Report

On October 28, Junshi Biosciences released its third-quarter report for 2025. The report showed that in the first three quarters of 2025, Junshi Biosciences achieved operating revenue of RMB 1.806 billion, a year-on-year increase of 42.06%. The revenue for the third quarter alone was RMB 637 million, representing a year-on-year growth of 31.40%. The revenue growth was primarily driven by increased sales volume of the core product toripalimab. In the first half of 2025, domestic sales revenue from this product amounted to approximately RMB 954 million, a year-on-year increase of about 42%. The net profit attributable to shareholders of the parent company was -RMB 596 million, reflecting a 35.72% narrower year-on-year loss.

Ailis Announces Financial Results for the First Three Quarters

On October 29, Shanghai Allist Pharmaceuticals Co., Ltd. released its record of investor relations activities. In the third quarter of 2025, the company achieved operating revenue of RMB 1.359 billion, a year-on-year increase of 42.03%; and realized net profit attributable to shareholders of the listed company of RMB 565 million, a year-on-year increase of 38.77%. Recent developments in its core product, furmonertinib, have drawn significant attention: it has been recommended as a first-line treatment in the “Expert Consensus on the Diagnosis and Treatment of Advanced NSCLC with EGFR PACC Mutations”; and Phase II study data on the treatment of lung cancer with EGFR Exon20ins mutations were presented at the 2025 ESMO Congress, confirming an objective response rate of 44.3%.

New Drug Developments

Hengrui’s Innovative Drug Fluzoparib Capsules: NDA for New Indication in Prostate Cancer Accepted

On October 27, Hengrui Medicine announced that it had received the “Notice of Acceptance” from the National Medical Products Administration (NMPA). The marketing authorization application for fluzoparib capsules (Airuiyi®), a Class 1 new drug independently developed by the company, has been accepted. The indicated indication is: in combination with abiraterone and prednisone or prednisolone for the first-line treatment of metastatic castration-resistant prostate cancer (mCRPC) with DNA repair gene deficiencies (DRD+).

InnoCare’s Novel ADC Innovative Drug ICP-B794 Completes First Patient Dosing

On October 30, InnoCare announced on its official website that the first patient had been dosed with ICP-B794, a novel antibody-drug conjugate (ADC) independently developed by the company and targeting B7-H3. This ADC comprises a humanized anti-B7-H3 monoclonal antibody linked via a protease-cleavable linker to a potent payload independently developed by the company. This design ensures precise targeting of tumor cells while minimizing off-target effects, offering a promising therapeutic option for patients with solid tumors such as lung cancer, esophageal cancer, nasopharyngeal carcinoma, head and neck squamous cell carcinoma, and prostate cancer.

Dongyangguang Pharmaceutical’s Novel Small Nucleic Acid Drug Approved for Clinical Trials

Recently, HECN30227, a novel small nucleic acid drug for hepatitis B independently developed by HEC Pharm, has received clinical trial approval from the National Medical Products Administration (NMPA). This drug is an siRNA therapy with global intellectual property rights, capable of efficiently reducing hepatitis B surface antigen levels and remaining effective against drug-resistant strains. Its liver-targeted delivery system enables precise action on the liver. The company is concurrently exploring multi-target combination therapies, bringing new hope for achieving a "functional cure" for hepatitis B patients.

Transcenta Holding’s Partner Inhibrx Announces Positive Phase II Clinical Trial Results of Ozekibart for Chondrosarcoma, with BLA Submission Planned for 2026

On October 31, Transcenta Holding announced that its partner, Inhibrx Biosciences, had released positive primary results from the pivotal clinical trial ChonDRAgon (n=206). The study evaluated the efficacy of ozekibart (INBRX-109) monotherapy versus placebo in patients with advanced or metastatic, unresectable chondrosarcoma. Based on these results, Inhibrx plans to submit a marketing application for ozekibart for the treatment of chondrosarcoma to U.S. regulatory authorities by the end of June 2026.

TransactionVCBeatTo

Everest Medicines and Visara Sign Agreement to Develop and Commercialize VIS-101 in Greater China and Other Asian Markets

On October 30, Everest Medicines announced on its official website that it had reached an agreement with Visara to obtain exclusive rights for the development and commercialization of VIS-101, a novel bifunctional biologic, in multiple Asian markets. By simultaneously targeting VEGF-A and ANG-2, the drug is expected to provide more durable efficacy for fundus diseases such as wet age-related macular degeneration. The total transaction value could reach up to approximately RMB 680 million. VIS-101 is anticipated to enter Phase III clinical trials in 2026, addressing the significant unmet need in ophthalmic care across Asia.

WuXi AppTec Signs Strategic Cooperation with Saudi Arabia’s NEOM and Ministry of Health, Planning to Expand CRDMO Platform Services

On October 28, WuXi AppTec announced that it had signed separate strategic cooperation memoranda of understanding with NEOM, the new sustainable city under construction in northwestern Saudi Arabia, and the Saudi Ministry of Health. WuXi AppTec will collaborate with NEOM to explore the localization of new drug research and development and manufacturing services in Saudi Arabia.