Hengrui Pharma's Recombinant Anti-HER2 Monoclonal Antibody (Injection) Receives New Indication for Breast Cancer

How does R&D investment of nearly 1.9 billion yuan at Hengrui Medicine drive breakthroughs in innovative drugs?

Radar Finance Text | Feng Xiuyu, Editor | Li Yihui

On March 20, Hengrui Medicine (600276) announced that its subsidiary, Suzhou Shengdiya Biopharmaceutical Co., Ltd., recently received approval from the National Medical Products Administration for an additional indication of its self-developed Class 1 innovative drug, Rituximab (SHR-A1811). This drug is used to treat adult patients with locally advanced or metastatic HER2-positive breast cancer who have previously received one or more anti-HER2 therapies.

Previously, this drug was approved for market in China in May 2025, for the treatment of unresectable locally advanced or metastatic non-small cell lung cancer (NSCLC) in adults with HER2 (ERBB2) activating mutations who have previously received at least one systemic therapy.

To date, the total R&D investment in this project has reached approximately 1.8883 billion yuan.

According to Tianyancha, Hengrui Medicine was established on April 28, 1997, with a registered capital of 63.79 billion RMB. The legal representative is Sun Piaoyang, and its registered address is No. 38, Yellow River Road, Lianyungang Economic and Technological Development Zone. Its main business involves the research, production, and sales of pharmaceuticals.

Currently, the company’s chairman is Sun Piaoyang, the secretary of the board is Liu Xiaohan, with 20,238 employees. The actual controller is Sun Piaoyang.

The company holds stakes in 48 subsidiaries, including Shanghai Shengdi Medical Co., Ltd., OME Health Management Limited in Hong Kong, Suzhou Shengdiya Biopharmaceutical Co., Ltd., Zhanheng International Limited, and Shanghai Hengrui Medicine Co., Ltd.

In terms of performance, the company’s revenue for 2022, 2023, and 2024 was 21.275 billion, 22.82 billion, and 27.985 billion yuan, respectively, with year-over-year growth rates of -17.87%, 7.26%, and 22.63%. Net profit attributable to the parent was 3.906 billion, 4.302 billion, and 6.337 billion yuan, with YoY growth rates of -13.77%, 10.14%, and 47.28%. During the same period, the company’s asset-liability ratio was 9.31%, 6.28%, and 8.07%.

Regarding risks, Tianyancha data shows the company has 89 internal Tianyan risks, 526 surrounding risks, 1,233 historical risks, and 325 warning risks.