On October 28, 2025, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (“Fosun Pharma”; SSE: 600196, HKEX: 02196), a major innovation-driven player in the Asian pharmaceutical sector, announced its financial and operational results for the first three quarters of 2025. Fosun Pharma reported an operating revenue of RMB29,393 million and a net profit attributable to shareholders of RMB2,523 million. Critically, revenue from its innovative drugs exceeded RMB6,700 million during this period, representing an 18.09% increase year-on-year, and indicating ongoing optimization of its revenue structure through higher-value pharmaceutical developments.

The latest earnings confirm Fosun Pharma’s strategic focus on core therapeutic areas including solid tumors, hematologic malignancies, and immune-inflammatory diseases, powered by platforms in antibody/ADC, cell therapy, and small molecule research. Notable regulatory advances in Q3 include the National Medical Products Administration’s (NMPA) acceptance of Brexucabtagene Autoleucel Injection (project FKC889) for adults with relapsed or refractory B-cell precursor acute lymphoblastic leukemia (ALL), while Fovinaciclib Citrate Capsules (CDK4/6 inhibitor) gained a new indication approval in China for HR-positive, HER2-negative breast cancer. These milestones directly expand patient access to domestically developed, high-value therapies across Asia and beyond.

International progress has also been solid. In September 2025, Fosun’s denosumab injection (HLX14) was approved in both the United States and the European Union, marking the first Chinese-origin denosumab authorized overseas—addressing treatment needs for osteoporosis and bone loss globally. Further, the company’s HLX43, a PD-L1-targeted antibody-drug conjugate, received Orphan-Drug Designation from the U.S. FDA for thymic epithelial tumors. HLX43, developed by Henlius (a Fosun subsidiary), is positioned for best-in-class, broad-spectrum anticancer applications and is advancing worldwide multi-center clinical development, with over 400 patients enrolled to date.

In Q3 2025, Fosun Pharma invested RMB3,998 million in R&D, a 2.12% year-on-year increase. Spending on R&D reached RMB2,730 million for the period, with Q3 alone accounting for RMB1,013 million—up 28.81% period-on-period—demonstrating strong commitment to pipeline expansion, next-generation cell therapies, radiopharmaceuticals, and AI-enabled drug discovery. The company also announced the launch of Xingrui Jingxuan, a cross-disciplinary radiotherapy business platform to accelerate pan-tumor integrated diagnostics and therapeutics, using both internal R&D and external partnerships to broaden its innovative reach and commercial prospects.

Financial and operational excellence are evident in Fosun Pharma’s achievements in business process optimization. Net cash flow from operating activities reached RMB3,382 million in the first three quarters, marking a 13.23% increase year-on-year, supported by lean operations, cost efficiency drives, and active supply chain management. Furthermore, Fosun Pharma successfully issued RMB1 billion of medium-to-long term Sci-Tech Innovation Bonds—the first by any private Chinese pharma following recent regulatory reforms—carrying a 2.7% coupon and two-year maturity, providing new capital flexibility for science-driven expansion and commercialization of advanced products.

To incentivize talent and drive long-term performance, Fosun completed both A-share and H-share buyback plans and proposed a 2025 A share option incentive scheme and H share RSU scheme. These measures align leadership and employee interests with strategic innovation priorities, supporting the ongoing transformation into a global pharmaceutical technology enterprise. Looking forward, Fosun Pharma reaffirms its commitment to an innovation-driven strategy, optimizing R&D resource allocation, accelerating clinical progress for high-potential assets, and upholding its mission to deliver more accessible, higher-quality healthcare products and services across Asia and worldwide.

Founded in 1994, Fosun Pharma is recognized as a leading Asian multinational with operations spanning pharmaceuticals, medical devices, diagnostics, and healthcare services. Its strategic partnership with Sinopharm Group further enhances its distribution and commercial capabilities regionally. As the third quarter closes, Fosun Pharma stands out for its accelerating investment in next-generation medicines, regulatory achievement, disciplined financial management, and continued elevation of Asia’s innovation landscape in the global pharmaceutical industry.