Core Viewpoint - Xiansheng Pharmaceutical (02096) reported strong growth in its first half of 2025, driven by its innovative drug business, with revenue and adjusted net profit increasing by 15% and 21% year-on-year respectively [1][2] Group 1: Financial Performance - For 1H25, Xiansheng Pharmaceutical achieved a revenue of 27.76 billion yuan, reflecting a year-on-year increase of 15% [1][2] - The adjusted net profit for the same period rose by 21%, aligning with market expectations [1] - The innovative drug revenue grew by 26%, contributing to 77.4% of total revenue, an increase of 6.6 percentage points year-on-year [1][2] Group 2: Research and Development - The company invested over 1 billion yuan in R&D during 1H25, accounting for nearly 30% of total revenue [1] - Significant innovative research outcomes include the launch of Daliresp and Suweisita monoclonal antibody [1] - The company completed two business development transactions with AbbVie and NextCure, focusing on GPRC5D/BCMA/CD3 tri-antibody and CDH6ADC, with the former expected to enter Phase I trials in 2026 [1] Group 3: Market Outlook - The rapid growth of innovative drugs such as Kexaira and Xianbi sublingual tablets is anticipated to continue, with Kexaira expected to officially launch in the second half of 2025 [2] - Three products, including Suweisita monoclonal antibody, Daliresp, and Xianbi sublingual tablets, have been included in the recent commercial insurance directory, which is expected to further boost innovative drug revenue [2]
先声药业再涨超6% 上半年创新研发成果显着 预计达利雷生有望于年内正式上市