Xin Hua Cai Jing·2025-10-28 13:41Core Insights - Fosun Pharma reported a revenue of 29.393 billion RMB for the first three quarters of 2025, showing a decline compared to the same period last year, but innovative drug revenue grew robustly, exceeding 6.7 billion RMB, a year-on-year increase of 18.09% [2] - The company is focusing on cost reduction, efficiency improvement, and asset lightening, optimizing its asset and financial structure, which resulted in a net cash flow from operating activities of 3.382 billion RMB, up 13.23% year-on-year [2] - Fosun Pharma is advancing its innovation transformation, with new approvals for its proprietary drugs, including a new indication for its CDK4/6 inhibitor and the first domestic desmopressin approved in the US and EU [2][3] Revenue and Financial Performance - For the first three quarters of 2025, Fosun Pharma's total revenue was 29.393 billion RMB, reflecting a decrease from the previous year [2] - Innovative drug revenue reached over 6.7 billion RMB, marking an 18.09% increase year-on-year, indicating a shift towards a more optimized revenue structure [2] - The net cash flow from operating activities was 3.382 billion RMB, representing a 13.23% increase compared to the same period last year [2] Research and Development Progress - R&D investment totaled 3.998 billion RMB in the first three quarters of 2025, a 2.12% increase year-on-year, with R&D expenses amounting to 2.730 billion RMB [4] - In Q3 2025, R&D expenses were 1.013 billion RMB, up 28.81%, primarily focused on innovative platforms including nuclear medicine and cell therapy [4] - The company is developing a high-value pipeline, with significant advancements in PD-1 inhibitors and other innovative drugs, and has established a nuclear medicine platform to integrate diagnosis and treatment in oncology [3][4] Product Development and Approvals - Fosun Pharma's CAR-T product, FKC889, received acceptance for registration in September 2025 for treating relapsed or refractory precursor B-cell acute lymphoblastic leukemia in adults [3] - The company’s innovative PD-1 inhibitor and other drug candidates have reached critical research milestones, with HLX43 receiving orphan drug designation from the FDA [3] - The establishment of the Xingrui Jingxuan nuclear medicine platform indicates a strategic move into integrated oncology treatment solutions [3]