In the 2025 China Pharmaceutical Innovation Index, Hengrui secured the top position in both the Innovation and Invention Indices, driven by its distinguished performance in R&D innovation, translational capability, and commercialization excellence. This dual recognition further underscores Hengrui’s central role in China’s, and increasingly, the global pharmaceutical innovation landscape.
Hengrui’s leading position is primarily underpinned by three structural drivers: robust financial performance, sustained high-intensity R&D investment, and a steady stream of innovative drug outputs. In 2024, the company increased its R&D spending by 33.8% year-on-year, driving a 30.6% rise in innovative drug revenue to approximately RMB 13.9 billion (USD $1.9 billion) and demonstrating a highly efficient translation of R&D investment into commercial performance.
Within Hengrui’s innovation portfolio, solid tumors remain among its most competitive therapeutic areas. Beyond its revenue-generating PD-1/PD-L1 immunotherapies and CDK4/6 inhibitors, the PARP inhibitor fluzoparib (AiRuiYi) delivered a standout performance in 2024. It introduced a novel first-line maintenance option for advanced ovarian cancer and was successfully included in the National Reimbursement Drug List (NRDL) for its newly approved indication. In the Phase III FZOCUS-1 trial, fluzoparib significantly prolonged progression-free survival (PFS), achieving a median PFS of 29.9 months, with clinically meaningful benefit observed irrespective of gBRCA1/2 mutation status. Fluzoparib has also demonstrated breakthrough potential in breast cancer, with Phase III FABULOUS data showing significant improvements in progression-free survival and emerging overall survival benefits in gBRCA-mutated triple-negative and HR+/HER2- disease, both as monotherapy and in combination with apatinib. These advancements reinforce Hengrui’s leadership in breast and gynecologic oncology and highlight its contribution to expanding therapeutic options for patients.
In the autoimmune space, Hengrui achieved a landmark milestone with Vunakizumab (Andajing), China’s first homegrown anti-IL-17A monoclonal antibody, marking a major shift away from the longstanding reliance on imported therapies. The Phase III SHR-1314-301 trial demonstrated superior skin lesion clearance and faster onset of action compared with control therapy, delivering statistically significant and clinically meaningful improvements in moderate-to-severe plaque psoriasis. Meanwhile, the selective JAK1 inhibitor Ivarmacitinib (Aisuda) has shown promising efficacy in atopic dermatitis, ankylosing spondylitis, and rheumatoid arthritis, emerging as another growth engine within Hengrui’s autoimmune pipeline. These developments reflect the company’s deepening capabilities in both invention and clinical innovation.
Hengrui has also sustained meaningful progress in metabolic diseases and analgesia. The world’s first ultra-long-acting PCSK9 antibody, Recaticimab (Aixinan), achieved potent and durable LDL-C reduction, offering a differentiated therapeutic option for patients with non-familial hypercholesterolemia and mixed hyperlipidemia. Henagliflozin, an SGLT2 inhibitor, was recognized as a first-line option for older adults with diabetes and added to the NRDL, underscoring Hengrui’s progress in chronic disease management.
Hengrui continues to advance its globalization and licensing strategy, shaping a dual-engine model of “independent innovation + global collaboration.” Leveraging the Newco model for the first time, Hengrui entered into a global licensing agreement with U.S.-based Hercules, granting exclusive ex-Greater China rights to its GLP-1 portfolio (HRS-7535, HRS-9531, HRS-4729). U.S. biotech IDEAYA Biosciences also recognized the value of Hengrui’s early-stage oncology assets, obtaining global rights (ex-Greater China) for the DLL3 antibody-drug conjugates (ADC) candidate SHR-4849. These partnerships signal Hengrui’s steady evolution from a “domestic innovator” to a globally oriented innovation player, accelerating worldwide access to its innovation outcomes.
Hengrui’s dual-category leadership in 2024 not only highlights its comprehensive strengths in drug discovery and invention but also mirrors the broader transformation of China’s pharmaceutical industry from generic-driven to innovation-led growth. With ongoing product approvals, pipeline expansion, and deepening global collaborations, Hengrui is increasingly positioning itself at the forefront of global pharmaceutical innovation.
