Everest Medicines and Haisco Pharmaceutical Group Sign Commercial Service Agreement and Licensing Agreement

Everest Medicines and Haisco Sign Commercial Service Agreement and Licensing Agreement to Promote Commercial Synergy and Multi-Domain Layout

Everest Medicines (HKEX: Everest Medicines (1952.HK)) announced on December 11, 2025, that its wholly-owned subsidiary, Everest Medicines Technology Co., Ltd. (hereinafter referred to as "Everest Medicines Technology"), has signed two strategic cooperation agreements with Haisco Pharmaceutical Group Co., Ltd. (hereinafter referred to as "Haisco"), including a commercial service agreement and a licensing agreement.

Under the commercial service agreement, Everest Medicines Technology will leverage its existing sales and marketing system to provide commercial services for six mature products under Haisco. Under the licensing agreement, Everest Medicines Technology has obtained the exclusive license for the subsequent clinical development, registration, and commercialization of Lerodalcibep in Greater China.

The two agreements will create significant financial and strategic synergies, improve the operational efficiency of the existing commercialization platform, accelerate the construction of Everest Medicines' full-lifecycle and full-channel commercialization capabilities, and at the same time, build an attractive business landscape for the company in the field of cardiovascular diseases. Through this collaboration, Everest Medicines will strengthen its commercialization foundation in China, increase market share, and inject core momentum for the long-term growth of its cardiovascular business. It is understood that Lerodalcibep is expected to be approved in Greater China in 2027, becoming a key engine for business growth.

Commercial Service Synergy to Enhance Multi-Product Portfolio Competitiveness

Under the commercial service agreement, Everest Medicines Technology will charge a fee of 20%-55% of the quarterly net sales of the relevant products. Over the three years ending December 31, 2028, the annual transaction amount cap to be paid by Haisco is set at RMB 560 million in 2026, RMB 616 million in 2027, and RMB 677 million in 2028.

The commercial service agreement covers three major therapeutic areas: critical care, cardiovascular, and metabolic diseases, involving six mature product portfolios, including Rocephin (R), Stilamin (R), and Urapidil (R) in critical care; Edarbi (R) and Blopress (R) in cardiovascular; and Basen (R) in metabolic diseases. These products can fully leverage the advantages and layout of Everest Medicines' existing commercialization platform. Among them, the three core products in critical care—Rocephin (R), Stilamin (R), and Urapidil (R)—are often referred to as the "Three Treasures of Critical Care" due to their key clinical positions in infections, digestive system emergencies, and circulatory system emergencies. Taking Rocephin (R) as an example, as a broad-spectrum third-generation cephalosporin, it has covered more than 8,500 hospitals nationwide, with a market share of over 80%, maintaining long-term and stable clinical demand in the treatment of complex infections. It is worth emphasizing that in the field of critical care, the core departments covered by these three drugs highly overlap with the core hospital coverage and professional promotion capabilities accumulated by Everest Medicines' efficient Ejia (R) commercialization team, which is expected to significantly improve product market penetration efficiency.

With the addition of this product portfolio, the company's commercialization layout in key therapeutic areas such as critical care and cardiovascular will be further expanded, forming stronger synergies with the existing commercialization system and providing more sufficient support for the scaled development and revenue growth of the commercialization platform.

Introducing Lerodalcibep to Expand Cardiovascular Strategic Layout

Under the licensing agreement, Everest Medicines Technology has obtained the exclusive license for the subsequent clinical development, registration, and commercialization of Lerodalcibep in Greater China and can use Haisco's related trademarks in Greater China without royalty fees. Everest Medicines Technology will pay an upfront payment of USD 29 million (approximately RMB 205 million), potential development and regulatory milestone payments of up to USD 30 million (approximately RMB 212 million), and potential sales milestone payments of up to USD 280 million (approximately RMB 1.977 billion); as well as potential royalties based on net sales.

Lerodalcibep, developed by the U.S. private company LIB Therapeutics, is a novel small-molecule protein-bound third-generation PCSK9 inhibitor used to reduce low-density lipoprotein cholesterol (LDL-C) levels in adult patients with hypercholesterolemia, including heterozygous familial hypercholesterolemia (HeFH). Lerodalcibep has been developed as a more patient-friendly and convenient once-monthly, small-volume subcutaneous injection, which can be easily stored or carried at home or while traveling. These features make Lerodalcibep a unique alternative to approved PCSK9 inhibitors.

Results from multiple global large-scale Phase III clinical trials involving more than 2,500 patients showed that Lerodalcibep can achieve sustained LDL-C reduction of >60% in patients with cardiovascular disease (CVD) or those at very high/high risk, and >55% in patients with more severe LDL-C elevation due to heterozygous familial hypercholesterolemia (FH). Additionally, the head-to-head clinical trial (Lerodalcibep vs. Inclisiran), the LIBerate-VI study, has achieved superior results (P=0.0319). The future launch of this product is expected to provide new treatment options for hundreds of millions of CVD patients worldwide, including approximately 30 million FH patients. The latest Chinese Phase III clinical trials further confirmed that this therapy can significantly reduce LDL-C levels in patients diagnosed with or at very high cardiovascular risk, including familial hypercholesterolemia.

Currently, several PCSK9 inhibitors have been approved in China, with the total market size reaching approximately RMB 3 billion in 2024, a year-on-year increase of 95%. According to a report by Frost & Sullivan, this market is expected to further expand to approximately RMB 10 billion by 2030. Although the population with dyslipidemia in China is about 400 million, only about 14% receive lipid-lowering treatment, reflecting low penetration and significant unmet medical needs. Lerodalcibep's patent exclusivity in China lasts until 2039.

According to public information, the product has submitted marketing applications to the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) and is expected to submit a Biologics License Application (BLA) in Greater China in the first half of 2026, with the earliest approval and launch expected in 2027.

Everest Medicines positions Lerodalcibep as a "key engine for business growth" and regards it as a "key weight" in its innovative drug layout. This move is seen as a precise implementation of the company's strategy to focus on high-potential "blue ocean" areas and rapidly build a high-value product portfolio through BD collaborations, significantly enriching the late-stage pipeline.

Market views generally believe that these two agreements achieve a balance of "short-term returns and clear medium- to long-term growth." Everest Medicines can leverage its established integrated medical, market access, and sales synergy system to efficiently output commercial capabilities, improve resource utilization efficiency, and further validate the scalability and operational resilience of its commercialization platform to the market, demonstrating high-efficiency and sustainable growth potential.