恒瑞医药谈出海：优先与全球领先药企合作 优势领域尝试自主开发

Core Insights - The company has achieved significant success in its internationalization strategy, with a total of 13 innovative drug licenses granted overseas, amounting to approximately $14 billion in total transaction value [1] - The company plans to continue its international strategy through a combination of internal development and external partnerships, focusing on collaborations with leading global pharmaceutical companies while retaining domestic development rights [1] - The impact of U.S. tariffs on the company's business is minimal, as overseas sales account for only 2.56% of total revenue, indicating limited exposure to tariff-related risks [2] Group 1 - The company received €160 million from Merck Healthcare and $100 million from Kailera Therapeutics as upfront payments for licensing agreements, which have been recognized as revenue [1] - The company aims to develop its own research and commercialization capabilities overseas while managing risks and adopting a cautious approach in specific advantageous areas [1][3] - The company will remain vigilant to changes in the international environment and adapt flexibly to ensure long-term stability [3]