Hisco has recently made two significant announcements. Firstly, the company has entered into an Authorization and R&D Collaboration Agreement with Eli Lilly. Under this agreement, Hisco will take charge of the discovery and early-stage R&D of innovative drug projects, focusing on up to five specific targets. Eli Lilly will acquire exclusive global rights to these projects, or exclusive rights outside of Mainland China, Hong Kong, Macau, and Taiwan. Conversely, Hisco will retain exclusive rights for certain projects within Mainland China, Hong Kong, Macau, and Taiwan. Hisco is set to receive an initial payment and near-term payments totaling up to US$87 million, along with subsequent milestone payments of up to US$2.967 billion, in addition to tiered sales royalties.

Secondly, Hisco's flagship drug, Ciprofol, has obtained marketing approval from the U.S. FDA, marking it as China's first independently developed intravenous anesthetic to receive FDA approval for market launch. As a Class 1 intravenous anesthetic, Ciprofol has been approved for multiple indications in China since its domestic approval in December 2020. In the United States, the drug bypassed earlier trial phases and directly entered pivotal Phase III clinical trials, with FDA acceptance achieved in July 2025. Furthermore, Ciprofol was included in China's National Reimbursement Drug List in 2023 and successfully maintained its listing in 2025, with validity extending until December 31, 2027.

In terms of financial performance, Hisco reported operating revenue of RMB 4.388 billion in 2025, representing a year-on-year increase of 17.91%. However, net profit attributable to shareholders of the listed company was RMB 260 million, down 34.36% year-on-year, primarily attributable to reduced government subsidies. On a brighter note, net profit after deducting non-recurring items was RMB 167 million, up 26.33% year-on-year. The first-quarter report for 2026 revealed that the company achieved operating revenue of RMB 1.564 billion in Q1, up 75.33% year-on-year. Net profit attributable to shareholders surged to RMB 555 million, up 1,089.85% year-on-year, largely due to approximately RMB 500 million in revenue generated from the transfer of the HSK39004 project.

Moreover, Hisco has signed an exclusive licensing agreement with U.S.-based AirNexis, granting them the rights to develop, manufacture, and commercialize the self-developed Class 1 innovative drug HSK39004 in global markets outside of Mainland China, Hong Kong, Macau, and Taiwan. The total potential transaction value stands at US$1.063 billion, comprising an upfront payment of US$108 million and milestone payments of up to US$955 million. HSK39004, a dual PDE3/4 inhibitor, is available in both inhalation suspension and inhalation powder formulations. In April 2026, its inhalation powder formulation was included in the CDE's List of Breakthrough Therapy Varieties, further underscoring its potential.