China's top drugmaker Hengrui profit in line with expectations in first quarter of 2026

China’s Jiangsu Hengrui Pharmaceuticals (1276), China’s biggest drugmaker by market value, reported first-quarter net profit in line with market expectations on Wednesday, as its drugs win coverage under China’s national insurance program.

The specialist in oncology, neurology, immunology, respiratory, metabolic and cardiovascular drugs has won inclusions for more drugs as Beijing’s centralised bulk buying programmes squeeze generic drug revenues.

There were 15 new Hengrui assets, or new indications, included in China’s National Reimbursement Drug List as of the end of 2025, according to a March 2026 note from HSBC Qianhai Securities.

The company posted a 21.8 percent rise in net profit for the January to March quarter to 2.3 billion yuan (HK$2.64 billion) on Wednesday, in line with one brokerage’s forecast of 2.3 billion yuan in net income, according to data compiled by LSEG.

Revenue for the quarter rose 13 percent to 8.1 billion yuan, falling short of a mean forecast of about 8.3 billion yuan for two brokerages, compiled by LSEG.