New anti-AIDS drug and subsidiary boost performance; Aidi Pharmaceutical narrows losses last year

On February 25, Aidi Pharmaceutical released its 2025 performance forecast. Thanks to increased revenue from innovative anti-HIV drugs and the operational data of its consolidated subsidiary Nanda Pharmaceutical, the company’s revenue for the reporting period grew by 72.49% year-over-year, and its loss narrowed from 141 million yuan in 2024 to 19.73 million yuan in 2025.

Anti-HIV Innovative Drug Revenue Expected to Increase by 90.34%

According to the performance forecast, Aidi Pharmaceutical achieved revenue of 720 million yuan during the reporting period, a 72.49% increase year-over-year. Its loss shrank from 141 million yuan in 2024 to 19.73 million yuan in 2025, an 86.02% decrease in loss. Notably, after years of losses, Aidi Pharmaceutical turned profitable in 2025, with an operating profit of 47.75 million yuan.

Aidi Pharmaceutical’s main business focuses on two areas: anti-HIV and human proteins. In the anti-HIV field, the company has innovative drugs such as Enomimide and Enovirin. Enovirin tablets are a new class of non-nucleoside reverse transcriptase inhibitors, approved for marketing in June 2021 for treating initial HIV-1 infection. This is the second domestically developed Class 1 new anti-AIDS drug. Enomimide tablets are a compound formulation based on Enovirin, combining two NRTIs—Fumaric Tenofofovir Diphosphate and Lamivudine—and was approved for domestic marketing in December 2022, with an additional indication approved in September 2024. It is also China’s first domestically owned oral Class 1 anti-HIV drug. In the 2024 China AIDS Treatment Guidelines, these two drugs are listed as fixed-dose combination single tablets, recommended as initial antiretroviral therapy for adults and adolescents, rated A1. Both drugs are currently included in the national medical insurance catalog.

The growth in sales revenue from these innovative anti-HIV drugs has been a key driver of Aidi Pharmaceutical’s revenue increase. Based on disclosed financial data, revenue from anti-HIV innovative drugs is expected to reach 285 million yuan in 2025, a 90.34% increase year-over-year, accounting for 39.53% of the company’s total revenue in 2025. In 2024, sales of these drugs totaled 150 million yuan, nearly doubling within a year.

Nanda Pharmaceutical Supports Human Protein Business

The human protein sector is another focus area for Aidi Pharmaceutical. The performance forecast indicates that the operating data of its consolidated subsidiary Nanda Pharmaceutical is also a significant factor in the company’s revenue growth. Financial data shows that Nanda Pharmaceutical’s revenue in 2025 is expected to reach 3 billion yuan, representing a 227.38% year-over-year increase based on consolidated reporting.

Recognizing Nanda Pharmaceutical’s position in the human protein field, Aidi Pharmaceutical has made multiple acquisitions. In July 2022, Aidi Pharmaceutical acquired a 19.9646% stake in Nanda Pharmaceutical from Jiangsu Shengfeng Medical Technology Co., Ltd. for 86 million yuan, aiming to strengthen its layout in the human protein area. In June 2024, Aidi Pharmaceutical further increased its stake by purchasing a 31.161% shareholding in Nanda Pharmaceutical from West China Silver Peak Investment Co., Ltd. and Hunan Keceng Innovation Investment Partnership (Limited Partnership) for 150 million yuan, raising its total ownership to 51.1256%. In January of this year, Aidi Pharmaceutical announced plans to acquire an additional 22.23% stake from minority shareholders for 130 million yuan, increasing its direct ownership in Nanda Pharmaceutical from 51.13% to 73.36%. The company stated that this move would further enhance its control and management efficiency over the subsidiary.

Since its establishment in 1998, Nanda Pharmaceutical has focused on the production and sales of human plasma protein products, including urokinase formulations and raw materials. It has also developed biopharmaceuticals and products for cardiovascular and cerebrovascular diseases, such as low-molecular-weight heparin sodium raw materials, formulations, and external preparations. According to data from Yaozhi.com, from 2016 to the third quarter of 2025, Nanda Pharmaceutical’s injectable urokinase formulations have maintained the highest market share in domestic hospitals for many years. Through multiple acquisitions, Aidi Pharmaceutical has implemented an integrated strategy covering raw material supply, raw material production, and urokinase formulation manufacturing—creating a complete “human protein raw material-formulation” supply chain.

By reporter Zhang Xiulan

Proofreader Yang Xuli