What are the top-selling drugs of Jiangsu Hengrui Medicine?

Overview of Jiangsu Hengrui Medicine

Company Background
Jiangsu Hengrui Medicine is one of China’s leading innovative pharmaceutical companies, with a history dating back to the 1970s and a transition from a traditional generic drug manufacturer to a powerhouse in novel drug R&D and commercialization. Over the years, the company has grown and diversified its portfolio across multiple therapeutic areas including oncology, metabolic diseases, and surgical drugs, establishing itself as a globally recognized name. Its extensive research and development initiatives have deployed cutting‐edge technologies and fostered collaborations with international partners to bring homegrown innovative medicines to both domestic and global markets. With a workforce exceeding 24,400 employees worldwide and a robust network of research centers, Hengrui Medicine has made significant strides in drug discovery and commercialization. These efforts have not only bolstered its internal pipelines but also allowed the company to consistently rank among the top global pharmaceutical innovators.

Market Position
Hengrui Medicine currently holds a strong market position in China and increasingly in international markets. The company is consistently featured among the top innovative pharmaceutical enterprises, having been included on lists such as the Pharmaceutical Executive Magazine’s Top 50 Global Pharmaceutical Companies and Citeline’s Top 25 Global Pharmaceutical Companies by Pipeline Size. Its strategic investments in R&D, marketing, and international collaborations have enabled it to maintain a prominent presence both at home and overseas. Recent financial results illustrate robust revenue growth, with innovative drug revenue reaching over 6.6 billion RMB in the first half of 2024, underscoring the company’s transition from traditional generics to high-value, innovative therapies. This market position is further strengthened by diversified therapeutic portfolios and significant licensing deals which continue to amplify its global competitiveness.

Top-Selling Drugs

Identification of Leading Products
Jiangsu Hengrui Medicine’s portfolio of top-selling drugs is characterized by a mix of innovative products that have carved a niche in competitive therapeutic segments. Among its leading products, several stand out for their clinical value, market acceptance, and substantial revenue contributions:

1. Paclitaxel for Injection (Albumin-Binding Type):
The albumin-binding formulation of paclitaxel is a prime example of Hengrui’s innovative approach to well-established oncology therapies. This product was not only approved in China but also received generic approval in the United States, making it the first Chinese company to achieve such a milestone in the US market. Since its launch in China in 2018, the product has accumulated impressive domestic sales—cumulative sales in public medical institutions have reached 4.334 billion RMB, with revenues exceeding 1 billion RMB in 2021 alone. This underscores its role as one of Hengrui’s flagship offerings in oncology.

2. Rezvilutamide (Chinese AR Inhibitor):
Developed entirely in-house, rezvilutamide represents China’s first domestically produced androgen receptor (AR) inhibitor and marks an important milestone in the company’s ambitions in the oncology space. As a second-generation AR inhibitor, rezvilutamide has not only achieved regulatory approval in China but has also witnessed strong sales performance post-approval. Its rapid uptake in the market—demonstrated by significant sales milestones shortly after its approval—is a testament to Hengrui’s ability to develop drugs that meet unmet clinical needs.

3. Camrelizumab Plus Rivoceranib Combination:
In the realm of immuno-oncology, the combination therapy of camrelizumab (a PD-1 inhibitor) with rivoceranib (a TKI inhibitor) has emerged as a significant commercial success. Initially approved in China as a first-line treatment for unresectable hepatocellular carcinoma (uHCC) and now undergoing U.S. filings, the combination has shown promising results in Phase III trials. Positive data, such as prolonged overall survival and progression-free survival compared to standard therapy, have bolstered its market acceptance and contributed to high revenue generation. The licensing deal involving this combination—where external partners like Elevar Therapeutics secured rights outside of the Greater China region—further reflects its commercial potential.

4. Bupivacaine Liposome Injection:
While relatively new in the company’s global portfolio, the bupivacaine liposome injection has already garnered significant attention. As the first generic version approved by the U.S. Food and Drug Administration (FDA) with a six‐month market exclusivity period, this drug is poised to capture a large market share. Its design leverages a unique liposomal delivery system that enhances bioavailability and minimizes side effects, making it a highly competitive option in the pain management market with estimated revenue prospects exceeding 4 billion RMB on a global scale.

5. Additional Innovative Products:
Beyond these star products, Hengrui’s portfolio includes several other high-profile innovative drugs which contribute substantially to its revenue mix. The company has built a broad pipeline covering diverse therapeutic areas—from oncology to immunotherapy—with numerous products in the New Drug Application (NDA) stage. While these products are still in various stages of commercialization, their presence and strong clinical data support the notion that they are poised to become top-selling drugs in the near future.

Sales Data and Market Performance
The top-selling drugs of Jiangsu Hengrui Medicine have not only demonstrated strong clinical efficacy but have also translated this into robust market performance, as evidenced by several key indicators:

1. Paclitaxel Injection (Albumin-Binding Type):
Since its launch in 2018, this formulation has shown exceptional market penetration. Cumulative sales data indicate that it has generated over 4.3 billion RMB in domestic public medical institutions. In 2021, the product even broke the 1 billion RMB mark in annual sales, highlighting its dominance within the oncology segment. The significant market adoption of this drug also reflects a response to unmet needs in metastatic breast cancer, metastatic adenocarcinoma, and non-small cell lung cancer when used in combination with other agents.

2. Rezvilutamide:
Post-approval, rezvilutamide rapidly achieved sales milestones that marked it as a key revenue driver for Hengrui Medicine. In comparison to other AR inhibitors, its competitive pricing and efficacy have resulted in a high market uptake. Although precise sales figures are not disclosed publicly, the reported rapid sales following approval and inclusion in the National Reimbursement Drug List (NRDL) indicate its success. Its leading status is further underscored by its ability to capture market share in a space that was previously dominated by imported drugs.

3. Camrelizumab Plus Rivoceranib:
This combination therapy has shown impressive clinical trial data and market performance. The combination not only yielded a significantly prolonged overall survival (22.1 months vs. 15.2 months with standard treatment) but also demonstrated a noticeable improvement in progression-free survival. Licensing arrangements where Elevar Therapeutics and other collaborators secured the rights for markets outside Greater China have led to milestone payments and additional royalties, further testament to its commercial potential. This combination’s promising clinical outcomes have driven rapid uptake and high revenue projections in both domestic and international markets.

4. Bupivacaine Liposome Injection:
Though newer to the market, this product has already generated considerable excitement. With its six-month exclusivity in the U.S.—a unique advantage granted under current FDA policies—the bupivacaine liposome injection is positioned to generate substantial sales revenue. Projections indicate that this drug could capture a significant portion of a market that was previously dominated by the original research product with a global market size estimated near 4 billion RMB in 2023.

5. Integrated Financial Performance:
The overall innovative drug segment of Hengrui Medicine has seen remarkable revenue contributions. As reported in the financial results for the first half of 2024, overall revenue reached 13.601 billion RMB with innovative drug income accounting for 6.612 billion RMB, reflecting a year-on-year growth of over 33%. This robust performance underscores that the company’s top-selling drugs, along with an expanding pipeline, form the cornerstone of its revenue growth—indicating successful market penetration and effective commercialization of these innovative therapies.

Factors Contributing to Success

R&D and Innovation
One of the fundamental pillars underpinning the success of Hengrui Medicine’s top-selling drugs is its unwavering commitment to research and development. The company has established numerous R&D centers globally, investing heavily in developing novel therapeutics based on cutting-edge science and technology. Key factors include:

- Significant R&D Investment:
In 2023, Hengrui Medicine allocated approximately 21.7% of its total revenue to R&D expenditures. This investment is directly reflected in its ability to generate innovative products that quickly gain market approval and commercial success.

- Diverse Technology Platforms:
The company’s technological platforms are diverse and cover traditional chemical pharmaceuticals, peptides, PROTACs, monoclonal/dual-specific antibodies, ADCs, small nucleic acids, radiopharmaceuticals, and emerging modalities such as mRNA and AI drug discovery platforms. This broad technological base allows Hengrui Medicine to address multiple therapeutic areas concurrently and develop highly specialized drugs such as paclitaxel injection (albumin-binding type) and camrelizumab plus rivoceranib.

- Collaborative Partnerships and Licensing Deals:
Strategic alliances with global players—for instance, licensing agreements with Elevar Therapeutics and Merck KGaA—accelerate development timelines and expand market reach. These partnerships not only bring in supplementary revenue through milestone payments and royalties but also enhance the clinical credibility and international acceptance of their innovative drugs.

- Focus on First-In-Class and Best-in-Class Therapies:
Hengrui Medicine’s strategy to prioritize first-in-class drugs, like rezvilutamide in the AR inhibitor category, and to leverage compounds with clear clinical advantages has paid dividends. This focus has allowed its top-selling drugs to not only secure market share but also offer competitive differentiation against imported and generic alternatives.

Marketing and Distribution Strategies
Effective commercialization efforts further complement Hengrui Medicine’s robust R&D infrastructure in driving the success of its top-selling drugs:

- Comprehensive Domestic and International Market Penetration:
The company has adopted dual strategies that focus on consolidating the domestic market—where centralized procurement policies have been managed successfully—and expanding into international territories. In the domestic market, aggressive marketing campaigns supported by clinical data and government-backed procurement agreements have enabled products like the albumin-binding paclitaxel injection to achieve high sales volumes. Meanwhile, international launches—such as the US approval of bupivacaine liposome injection—demonstrate its proactive approach towards global commercialization.

- Strategic Licensing and Out-Licensing:
By partnering with external entities for commercialization outside specific regions, Hengrui Medicine has optimized its market access. For example, the licensing of camrelizumab plus rivoceranib outside the Greater China region ensures that the product benefits from local expertise and pre-established distribution networks, thereby maximizing sales and reducing operational risks.

- Robust Sales Force and Distribution Network:
Hengrui Medicine’s sales and marketing infrastructure is extensive. The company leverages a well-trained sales force coupled with a multi-channel distribution strategy that ensures broad coverage across both public and private healthcare institutions. This dedicated approach has fostered strong relationships with key hospital networks and procurement agencies, further cementing the market penetration of its best-performing drugs.

- Adapting to Policy Changes:
The company has also demonstrated agility in responding to policy shifts, such as overcoming the challenges posed by centralized procurement policies that previously impacted revenues. Its ability to adjust pricing strategies and to invest in innovative formulations that command premium prices has been critical in sustaining high sales and market performance.

Future Prospects and Challenges

Pipeline Products
Looking ahead, Jiangsu Hengrui Medicine’s pipeline is robust and diversified, with several promising candidates in various stages of clinical development poised to replicate the success of its top-selling drugs:

- Expansion of the ADC and Immunotherapy Pipeline:
The company is actively advancing its antibody–drug conjugate (ADC) programs, with over 10 compounds in the pipeline. These products are being developed to address unmet needs in oncology and immunotherapy, building on the success of camrelizumab plus rivoceranib and offering potential blockbuster returns.

- Pursuit of Novel Molecular Platforms:
In addition to its established chemical and biological therapies, Hengrui is exploring new modalities such as mRNA platforms, PROTACs, and other novel molecular model platforms like PDC, AOC, and DAC. These represent the next frontier in precision medicine and are expected to enhance the company’s portfolio diversity and address emerging patient needs.

- Global Clinical Trials and Regulatory Progress:
Hengrui’s strategy to conduct multicenter international clinical trials, particularly for innovative drugs, is expected to further streamline regulatory approvals in key markets like the U.S. and Europe. This proactive approach to clinical development will not only accelerate time-to-market for pipeline products but also enhance the company’s credibility as a true global player in pharmaceutical innovation.

Market Trends and Competitive Landscape
The future of Hengrui Medicine’s top-selling drugs and overall product portfolio will be shaped by several external and internal factors:

- Increasing Global Competition:
As more domestic and international competitors enter high-end therapeutic segments, Hengrui Medicine must continually innovate to maintain its lead. The company’s ability to develop first-in-class and best-in-class drugs has provided it with an edge so far; however, sustained investment in R&D and maintaining regulatory agility will be critical as the competitive landscape intensifies.

- Policy and Pricing Dynamics:
In both domestic and international markets, evolving policies—such as healthcare reform measures and drug pricing regulations—pose ongoing challenges. Hengrui Medicine’s past success in overcoming centralized procurement challenges demonstrates its capacity for strategic adaptation. Moving forward, similar agility in pricing models and market positioning will be essential to continue driving top drug sales despite policy shifts.

- Leveraging Digital and AI-Assisted Technologies:
The integration of artificial intelligence (AI), real-world data analytics, and digital technologies into drug development and marketing strategies represents a significant opportunity. Hengrui Medicine’s investment in AI drug research and its structural biology platforms are expected to not only identify novel targets more rapidly but also optimize clinical trial designs and marketing efforts across global markets.

- Growing Demand for Precision and Personalized Medicine:
The shift towards personalized medicine is reshaping the pharmaceutical industry. Hengrui Medicine’s focus on targeted therapies—exemplified by its AR inhibitors like rezvilutamide and novel immunotherapies—positions it well to meet the increasing demand for tailored treatments. This trend is likely to boost the market performance of existing top-selling drugs while also paving the way for future portfolio expansion.

- Challenges in Manufacturing and Quality Control:
As the company expands its international footprint, maintaining stringent manufacturing quality across global facilities will be essential. Any issues related to manufacturing site deficiencies or quality control could impact supply chain efficiency and, in turn, market performance. However, Hengrui Medicine’s established quality management systems and long-term investments in manufacturing platforms are expected to mitigate these risks.

Conclusion

Jiangsu Hengrui Medicine has successfully transitioned from a generic-focused manufacturer to a leading innovator in the global pharmaceutical landscape. Its top-selling drugs, notably the albumin-binding paclitaxel injection, rezvilutamide, the camrelizumab plus rivoceranib combination, and the newly launched bupivacaine liposome injection, exemplify the company’s ability to address critical therapeutic needs with innovative products. These drugs have secured impressive market performance — the paclitaxel injection alone has generated cumulative domestic sales exceeding 4.334 billion RMB, while rezvilutamide and the combination therapy have rapidly captured significant market share through effective commercialization strategies.

Central to this success has been Hengrui Medicine’s heavy investment in R&D and its strategic collaborations which have enabled the rapid development and regulatory approval of breakthrough products. Its comprehensive marketing and distribution strategies, aimed at both domestic and international markets, have further ensured that these top-selling drugs continue to generate robust revenue growth, as evidenced by its innovative drug revenue of 6.612 billion RMB in the first half of 2024.

Looking forward, while challenges such as intensifying global competition, evolving policy environments, and manufacturing quality must be navigated, Hengrui Medicine’s expanding pipeline and continuous innovations provide a promising outlook. With ongoing investments in breakthrough technologies and an agile approach to market dynamics, the company is well-positioned to maintain its leadership position in the pharmaceutical industry and to drive future revenue growth through its pipeline products.

In summary, Jiangsu Hengrui Medicine’s top-selling drugs are a result of meticulous R&D, strategic market initiatives, and the ability to adapt to dynamic healthcare environments. Their impressive sales performance, combined with a robust innovation pipeline and proactive international expansion, underscore the company’s standing as a dominant player in the global pharmaceutical arena, while also laying a strong foundation for enduring future success.