May-2026 pharmaceutical drug sales: hospital sales continued slowdown YoY

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May-2026 pharmaceutical drug sales: hospital sales continued slowdown YoY

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Healthcare - China (H/A)

May-2026 pharmaceutical drug sales:

hospital sales continued slowdown YoY

Industry Overview

China pharma market: sales down 1.6% in May 22 July 2026

In May, China’s pharmaceutical market recorded sales of RMB65.1bn, down 1.6% YoY. Equity

Sample drug sales of hospital/retail segment changed by -1.8%/+0.6% YoY or down China

12.0%/3.2% MoM. Healthcare

Hansoh: drug sales maintain YoY growth DavidResearchLi >>Analyst

Hansoh’s total drug sales reached RMB588.9mn in May, up 7.3% YoY. Most key products Merrill+852 3508Lynch4531(Hong Kong)

delivered positive YoY growth, with almonertinib/flumatinib/ tenofovir amibufenamide/ davidbo.li@bofa.com

enzalutamide reporting sales of RMB216.2mn/RMB59.8mn/RMB91.2mn/RMB24.6mn, up Sandra Sun >>

3.0%/16.6%/18.0%/24.8% YoY, respectively. In contrast, peg-loxenatide recorded a 5.7% ResearchMerrill LynchAnalyst(Hong Kong)

YoY decline. We maintain our Buy rating with a PO of HK$44.5. sandra.sun@bofa.com

Ethan Cui >>

Hengrui: innovative drugs support sales ResearchMerrill LynchAnalyst(Hong Kong)

Hengrui generated total drug sales of RMB1,587.7mn in May, up 3.3% YoY. Its key ethan.cui@bofa.com

product, ioversol, generated sales of RMB197.6mn, down 3.6% YoY/11.3% MoM. Other

major products delivered positive YoY growth: rafutrombopag and rezvilutamide

recorded sales of RMB107.5mn and RMB111.8mn, up 10.9% and 54.8% YoY,

respectively. We maintain our Buy rating with a PO of RMB72.7.

Sino Biopharm: drug sales remain under pressure

Sino Biopharm’s drug portfolio generated RMB1,303.4mn in sales in May, down 5.5%

YoY/11.3% MoM. Two new products, carfilzomib and amphotericin b, started generating

sales during the month.