Summary of China Healthcare & Pharmaceuticals 3Q25 Drug Sales Tracker Industry Overview - The report focuses on the China healthcare and pharmaceuticals industry, specifically analyzing drug sales data for the third quarter of 2025 (3Q25) [1][2]. Key Findings - Overall Market Performance: The overall drug market sales in China declined by 6.2% year-on-year (y-y) but increased by 6% quarter-on-quarter (q-q), totaling CNY 226 billion in 3Q25 [2][1]. - Performance of Domestic Pharma Companies: - Hengrui: Sales decreased by 0.1% y-y to CNY 5.8 billion. - Sinobio: Sales fell by 0.9% y-y to CNY 4.1 billion. - Hansoh: Sales declined by 0.8% y-y to CNY 2.0 billion. - Qilu Pharma: Experienced a 9% y-y decline to CNY 4.7 billion. - CSPC: Sales dropped by 17% y-y to CNY 3.6 billion [4][4]. - Biotech Companies' Growth: - BeOne: Sales increased by 20.4% y-y to CNY 1.5 billion. - Innovent: Sales rose by 24.6% y-y to CNY 1.5 billion. - Akeso: Notable growth of 130.1% y-y to CNY 156 million. - Remegen: Sales grew by 54.2% y-y to CNY 255 million [5][5]. - Multinational Corporations (MNCs) Performance: - AstraZeneca: Sales decreased by 4.9% y-y to CNY 6.1 billion. - Novartis: Sales fell by 7.3% y-y. - Roche: Sales declined by 13.6% y-y. - Pfizer: Sales dropped by 13.9% y-y [6][6]. - Notable Growth in Specific Products: - Novo Nordisk: Sales increased by 22.3% y-y to CNY 3.7 billion, driven by Semaglutide sales growth of 35% y-y to CNY 1.3 billion. - Eli Lilly: Sales of Tirzepatide reached CNY 2 million in 3Q25 [7][7]. Additional Insights - Hengrui's Specific Products: - Camrelizumab: Sales rose by 34% y-y to CNY 445 million. - Pyrotinib: Sales remained flat at CNY 280 million. - Mecapegfilgrastim: Sales increased by 4% y-y to CNY 435 million [9][9]. - Sinobio's Product Performance: - Anlotinib: Sales grew by 6% y-y to CNY 646 million. - Magnesium Isoglycyrrhizinate: Sales increased by 7% y-y to CNY 682 million [9][9]. - CSPC's Oncology Drugs: - Duomeisu: Sales surged by 91% y-y to CNY 40 million. - Jinyouli: Sales declined by 19% y-y to CNY 609 million [10][10]. - Hansoh's Oncology Drugs: - Almonertinib: Sales rose by 14% y-y to CNY 560 million. - Flumatinib: Sales increased by 25% y-y to CNY 185 million [10][10]. Conclusion - The China healthcare and pharmaceuticals market is experiencing mixed results, with domestic companies facing declines while biotech firms show significant growth. MNCs are also struggling, indicating a challenging environment for the industry overall. The data suggests potential investment opportunities in biotech companies that are outperforming their peers.