Hengrui Pharma(SH:600276) 中国基金报·2025-09-01 16:03Core Viewpoint - Heng Rui Medicine's first self-developed EZH2 inhibitor, Ze Mei Tuo Si Ta Pian (SHR2554), has received conditional approval for market launch from the National Medical Products Administration (NMPA) in China, marking a significant milestone for the company as it is the first EZH2 inhibitor developed in China [2][7]. Group 1: Drug Development Progress - The conditional approval for Ze Mei Tuo Si Ta Pian is aimed at adult patients with relapsed or refractory peripheral T-cell lymphoma (R/R PTCL) who have received at least one line of systemic therapy [7]. - Peripheral T-cell lymphoma (PTCL) accounts for approximately 25% to 30% of non-Hodgkin lymphoma cases in China, with a median onset age of 52 years, indicating a relatively younger patient demographic [7]. - The total R&D investment for SHR2554 has reached approximately 21.3 million yuan [7]. Group 2: Additional Drug Approvals - Heng Rui Medicine's subsidiary, Fujian Shengdi Pharmaceutical Co., has received a notice from the NMPA regarding the acceptance of the drug listing application for HRS9531 injection, which is intended for long-term weight management in adults [4][7]. - HRS9531 is designed to regulate glucose and lipid metabolism, suppress appetite, and enhance insulin sensitivity, thereby improving blood sugar levels and aiding weight loss [7]. Group 3: Financial Performance - In the first half of 2025, Heng Rui Medicine reported a revenue of 15.761 billion yuan, representing a year-on-year growth of 15.88%, with a net profit of 4.450 billion yuan, up 29.67% [10]. - The company has maintained a high level of R&D investment, totaling 3.871 billion yuan during the same period, with 3.228 billion yuan classified as expensed R&D [10]. - Revenue from innovative drugs accounted for 60.66% of total revenue, with sales and licensing income from innovative drugs reaching 9.561 billion yuan [11]. Group 4: Market Position and Future Plans - Heng Rui Medicine is committed to developing innovative products and has established a strong and differentiated technology platform supported by 14 global R&D centers [11]. - The company is exploring both self-developed and potential acquisitions to enhance its product pipeline, particularly in oncology and metabolic disease areas [11]. - As of September 1, the stock price of Heng Rui Medicine was 68.65 yuan per share, reflecting a year-to-date increase of over 49% [11].