Everest Medicines disclosed its 2026 interim results, with total revenue of 1.148 billion yuan, up 157.3% year on year, and adjusted profit of 97.232 million yuan, turning from loss to profit. Sales revenue of its core product, the IgA nephropathy drug Nefecon, was 889 million yuan, contributing more than 77% of revenue, but still short of the company's previously set full-year 2026 target of 2.4 billion to 2.6 billion yuan, with the first half completing only about 37% of the lower end of the target. The company's other income came from a commercialisation services partnership with Haisen Bio, which has contributed 145 million yuan in sales revenue and 28 million yuan in profit since launching in March 2026. After the results were announced, Everest Medicines' share price fell 18.72% on the day to 23.8 Hong Kong dollars, with a total market capitalisation of 8.421 billion Hong Kong dollars.
Everest Medicines LtdRevenue up but Nefecon sales miss target, leading to 18.72% share drop.
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