Hengrui Pharma (01276) Surges Over 6% as Airui Li® Wins New Indication; International Expansion Yields Rich Results

Shares of Jiangsu Hengrui Pharmaceuticals Co., Ltd. (01276.HK) surged more than 6% during intraday trading on Thursday, before settling at HKD 59.9, up 3.54%, with turnover reaching HKD 136 million.

The rally followed news that the company's self-developed PD-L1 inhibitor Adebrelimab injection, marketed as Airui Li®, has received approval from China's National Medical Products Administration for a new indication. The drug is now approved for use in combination with platinum-based chemotherapy as neoadjuvant therapy, followed by single-agent adjuvant treatment, for adult patients with resectable Stage II, IIIA, and IIIB non-small cell lung cancer (NSCLC) who have no known epidermal growth factor receptor (EGFR) mutations or anaplastic lymphoma kinase (ALK) rearrangements.

Southwest Securities noted that this approval strengthens Hengrui's product portfolio in the lung cancer segment, providing full treatment coverage from early to advanced stages. The firm believes the new indication could synergize with the company's proprietary antibody-drug conjugate (ADC) platform and other technology pipelines, creating incremental value across perioperative and metastatic treatment settings.

The approval comes as Hengrui continues to expand its international footprint. According to SDIC Securities, the company has achieved significant progress in overseas business development partnerships for innovative drugs since 2023, securing multiple agreements with multinational pharmaceutical corporations and biotech companies. The total potential deal value has exceeded $30 billion.

SDIC Securities added that Hengrui's overseas partnerships continue to deliver results, with several drug candidates positioned to generate future revenue-sharing from international markets beyond milestone payments. The brokerage expects the company's overseas valuation to be reshaped as its internationalization strategy advances, with further developments worth monitoring.

Hengrui Pharma, one of China's largest pharmaceutical companies by market capitalization, has been aggressively pivoting toward innovative drug development and global expansion. The company's strategic focus on oncology, particularly lung cancer treatments, positions it to capture a growing share of one of the world's most lucrative therapeutic areas.