Hengrui Pharma Q3 Profit Jumps 89%
Jiangsu Hengrui Pharmaceuticals reported an 88.9 percent rise in third-quarter net profit to 2.5 billion yuan. The strong growth was driven by income from lucrative international out-licensing deals as Chinese drugmakers expand global partnerships.
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JIANGSU HENGRUI PHARMACEUT-H posted an 88.9% surge in third-quarter profit to 2.5 billion yuan ($375 million), fueled by lucrative international licensing agreements. The earnings beat an analyst forecast of 1.84 billion yuan, driven by a 21% rise in operating revenue to 9 billion yuan during the period ending September 30. The results highlight a strategic shift among drugmakers in China as overseas out-licensing offsets domestic pricing pressures.
