China-based CSPC Innovation Pharmaceutical has guided first-half 2026 attributable net profit of RMB 1.18 billion to RMB 1.36 billion (USD 174 to 201 million), with adjusted net profit of RMB 1.15 billion to RMB 1.33 billion, reversing prior-year losses.

The turnaround was materially supported by a USD 420 million upfront payment received in full on 29 May 2026 from AstraZeneca (AZ) under a January 2026 strategic licence and collaboration agreement in novel peptide molecules, executed through its subsidiary Jushi Biologics. Partial revenue recognition of the upfront sum under relevant accounting standards drove the earnings inflection.

Beyond the licensing windfall, CSPC Innovation continued advancing its biologics, antibody-drug conjugate (ADC), and mRNA vaccine platforms across oncology, metabolic, and autoimmune indications. Commercial traction also strengthened with approved products including enlonstobart (anti-PD-1), an omalizumab biosimilar, and a ustekinumab biosimilar.