Domestic Innovative Drugmakers See Accelerated Profit Realization, with One Company Forecasting H1 Net Profit Surge Over 5-Fold

　　【Pharmaceutical Network Market Analysis] Currently, the domestic pharmaceutical innovation sector in China is demonstrating strong momentum. Some institutions indicate that innovative drugs, biotechnology, and high-end medical services have become the core drivers of the industry. Companies are accelerating the innovation process through independent research and development as well as technological collaborations. The market holds positive expectations for pharmaceutical enterprises with technical barriers and clinical value, driving the industry’s overall transition toward high-quality development.
 

Among them, Haisco benefited from the receipt of upfront payments from business development (BD) transactions and the growth in sales of innovative drugs, achieving a significant increase in performance. On July 8, the company announced that the net profit attributable to shareholders of the listed company for the first half of 2026 is expected to be RMB 790 million to RMB 870 million, representing a year-on-year increase of 513.25% to 575.35%. It is reported that the company has successfully obtained marketing approval for four Class 1 innovative drugs, including Ciprofol Injection, Clevidipine Capsules, Coglitin Tablets, and Anruikufen Injection, while multiple innovative drug pipelines under research are being advanced. In addition, during the first half of this year, the company reached several BD agreements with multinational pharmaceutical companies such as Eli Lilly, Nuvectis Pharma, AbbVie, and AirNexis.
 

Furthermore, in the innovative drug sector, a number of innovative pharmaceutical companies, including BeOne, Innovent, RemeGen, Junshi Biosciences, 3SBio, and Nocturne Biopharma, have also reached an inflection point in their performance. For instance, BeOne reported operating revenue of RMB 10.544 billion in the first quarter of 2026, a year-on-year increase of 31%; net profit attributable to shareholders amounted to RMB 1.608 billion, marking a turnaround from loss to profit. Industry experts note that the intrinsic value of BeOne’s “report card” lies not merely in the transition from losses to profits, but in the fact that the factors driving improved profitability point to a deep-seated structural transformation. The era of “Chinese Biotech,” characterized by pipeline accumulation and substantial cash burn, is accelerating its transition toward the “Big Pharma” stage, capable of achieving a closed-loop global commercialization model. BeOne’s first-quarter report provides encouraging clues: sales of Amgen-licensed products reached RMB 989 million in the first quarter, a year-on-year increase of 20.9%; global sales of its self-developed PD-1 inhibitor tislelizumab amounted to USD 206 million, a year-on-year increase of 20%. Even more promising is sotoclax (BeYueda®), a next-generation BCL-2 inhibitor approved for launch in China in January 2026. It has rapidly entered hospitals and is expected to receive US approval in the first half of 2026. This product is a BCL-2 inhibitor approved for the treatment of mantle cell lymphoma.
 

In the first quarter of 2026, Innovent recorded product revenues exceeding RMB 3.8 billion, representing a year-on-year increase of over 50%. This strong momentum underscores the successful execution of the company’s “dual-engine” strategy. The company’s position in the oncology field has become increasingly prominent, with five tyrosine kinase inhibitors (TKIs) rapidly gaining market share following their inclusion in the National Reimbursement Drug List (NRDL). Meanwhile, the diversified portfolio has emerged as a powerful new driver of revenue growth, primarily driven by the outstanding performance of core products such as Xinermei (mazdutide injection), Xinbile (tolerastamab injection), and Xinbimin (teprotumumab N01 injection). Furthermore, Innovent continues to advance its global innovation initiatives, unlocking sustained upward growth potential for the company’s value.
 

Turning to RemeGen, the company reported revenue of RMB 656 million in the first quarter of 2026, a year-on-year increase of 24.76%; net profit attributable to shareholders amounted to RMB 328 million, marking a turnaround from loss to profit compared to the same period last year. It is reported that RemeGen has commercially launched two products. Among them, telitacicept, a BLyS/APRIL dual-target fusion protein, has been approved in China for three indications: systemic lupus erythematosus, myasthenia gravis, and rheumatoid arthritis. The antibody-drug conjugate (ADC) disitamab vedotin has also received sequential approvals for indications including gastric cancer, urothelial carcinoma, and HER2-positive breast cancer.
 

In recent years, the number of innovative drugs launched in China has repeatedly hit record highs, with the scale of clinical trials consistently ranking among the top globally. Cross-border pharmaceutical licensing collaborations have continued to deepen. Leveraging robust innovation vitality, an efficient R&D system, and extensive opportunities for cooperation, China is continuously delivering high-quality, cost-effective diagnostic and therapeutic solutions, emerging as a major global source of pharmaceutical innovation. According to statistical data, more than 30 innovative drugs were approved for marketing in China in the first half of 2026. Additionally, data shows that the total value of overseas transactions involving Chinese innovative drugs reached $99.7 billion in the first half of 2026, accounting for nearly 73% of the full-year level in 2025 and approximately 1.9 times the full-year total in 2024.
 

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