Jiangsu Hengrui Pharmaceuticals Co. said Tuesday that net profit attributable to shareholders rose 88.92% in the third quarter of 2026 to 2.46 billion yuan, according to a company statement distributed by PR Newswire².

Quarterly revenue was 8.95 billion yuan, up 20.55% from a year earlier, the company said². Reuters, citing the results, described the profit as 2.5 billion yuan, or about $375 million, versus 1.3 billion yuan a year earlier, and said the figure beat one analyst forecast of about 1.84 billion yuan in LSEG data¹.

For the first nine months of 2026, Hengrui reported revenue of 24.41 billion yuan, up 5.26%, and net profit attributable to shareholders of 6.92 billion yuan, up 20.38%². Product sales were 21.48 billion yuan, up 2.52%, while innovative-drug sales were 13.87 billion yuan, up 17.05% and about 64.59% of total drug sales².

Out-licensing of innovative drugs generated 2.78 billion yuan of revenue in the nine-month period, up 31.12%, the company said². It also said it received 4.34 billion yuan in cash from collaboration upfront and milestone payments, mainly a $600 million Bristol Myers Squibb upfront².

On Sept. 29, Hengrui said it licensed HRS-1596, a phase I-ready oral GLP-1/GIP dual agonist, to Novo Nordisk for exclusive rights outside mainland China, Hong Kong, Macao and Taiwan, with potential value of up to $2.6 billion including a $300 million upfront, royalties on licensed-territory sales, and an expected close in the fourth quarter of 2026². Reuters also tied the quarter's profit rise to out-licensing income¹.

Hengrui said it spent 7.15 billion yuan on research and development in the nine months, of which 5.42 billion yuan was expensed, and that seven innovative-drug or indication approvals were obtained in China in the third quarter². What the results imply for full-year innovative-drug sales versus internal targets was not detailed in the company release².