#China #Shanghai #Pfizer #R&D #3SBio

3SBio Reports Record-Breaking Annual Results for 2025

3SBio Inc. (01530.HK) has unveiled its financial report for the year 2025, showcasing a remarkable leap in revenue that crossed the RMB 10 billion milestone for the first time. The company attributes this significant enhancement to its dedicated focus on innovative research and development (R&D) as well as strategic global collaborations. With total revenues reaching RMB 17.7 billion—a staggering 94.3% increase compared to the previous year—3SBio has etched a historic mark in its financial journey. Net profit for the year attributed to shareholders soared to RMB 8.48 billion, representing an astonishing year-on-year growth of 305.8%.

In an environment where quality and efficiency are paramount, 3SBio strengthened its R&D expenditure, which amounted to RMB 1.52 billion, marking a 14.6% increase compared to the previous year. This investment is instrumental in expediting the advancement of the company’s innovative drug pipeline. As a result, by the end of 2025, 3SBio's total financial resources had climbed to an impressive RMB 20.4 billion, significantly solidifying its financial foundation with an interest-bearing debt ratio dropping to 9.8%. The company's robust cash flow allowed it to declare a final dividend of HKD 0.25 per share for 2025, which reflects its commitment to providing value to shareholders amidst its growth trajectory.

Revolutionary Partnership with Pfizer

A landmark moment for 3SBio was its collaboration with Pfizer, which became a cornerstone of its globalization strategy in 2025. This global licensing agreement for the innovative PD-1/VEGF bispecific antibody, SSGJ-707, had a potential total deal value exceeding US$6 billion. Notably, it granted 3SBio a substantial upfront payment of US$1.4 billion—a record high for a single out-licensing agreement from a Chinese innovator. This represents a transformative endorsement from a major global pharmaceutical entity.

The collaboration not only recognizes the quality and standards of Chinese drug innovation but also illustrates 3SBio's competitive edge in the international biopharmaceutical space. As part of this partnership, 3SBio retains the right to supply the SSGJ-707 drug substance for both clinical and commercial purposes in China, with the initial batch already delivered for global development.

Nine international multi-center clinical trials targeting a range of high-incidence tumors have been initiated, showcasing a concentrated effort toward unlocking the product's global clinical and commercial potential. The partnership with Pfizer is set to accelerate the clinical development of SSGJ-707 and opens various avenues for expanding the product’s indications and therapy combinations in the future.

Continued Innovation and Product Approvals

The reporting period also marked a significant acceleration in product approvals for 3SBio, with the launch of three novel drugs and new indications for core products. For instance, Amdokitug Injection (Yisaituo®) has emerged as an effective treatment for moderate-to-severe plaque psoriasis and is recognized for its robust response times.

Loncipoetin Alfa Injection (NuPIAO®) became the first domestic long-acting recombinant erythropoietin biweekly formulation, specifically targeting anemia in hemodialysis patients. Furthermore, Eltrombopag Ethanolamine Tablets provide a valuable oral treatment option for those suffering from immune thrombocytopenia and severe aplastic anemia.

The company’s flagship product, TPIAO®, received a new indication for treating chronic liver disease-related thrombocytopenia, expanding its market reach significantly. Moreover, the Paclitaxel Oral Solution (Liporaxel®) gained authoritative recognition, boosting its commercial prospects in advanced gastric cancer treatment.

Three additional products are currently in the New Drug Application (NDA) stage, offering promising growth potential. These include innovative treatments targeting acute gouty arthritis, moderate-to-severe atopic dermatitis, and macular edema, illustrating 3SBio’s continuing commitment to launch competitive therapies addressing significant unmet medical needs.

Building A Competitive Pipeline

In 2025, 3SBio reinforced its R&D investments, focusing on creating a diverse and robust pipeline. With multiple novel therapeutic candidates in crucial clinical stages—including discussions around hematology, oncology, autoimmune diseases, and various emerging health conditions—the company is poised to carve out a competitive aspect crucial for long-term sustainability.

For instance, 3SBio is pioneering its approach towards autoimmune diseases and nephrology, with innovative products actively progressing through clinical trials.

With ambitions set high, Dr. Lou Jing, Chairman and CEO of 3SBio, expressed optimism regarding the company's trajectory. '2025 was a landmark year for us, concluding the 14th Five-Year Plan and showcasing the incredible growth we've achieved,' he remarked.

3SBio's progressive initiatives, deep-rooted commitment to innovation, and ambitions to deliver high-quality pharmaceuticals globally set a formidable roadmap as they forge ahead into 2026 and beyond. The company’s mission remains clear: to make innovative biopharmaceuticals accessible to all, enriching the lives of patients worldwide.