3SBio
3SBio, a prominent biopharmaceutical company headquartered in China, brings over 30 years of experience in research, development, production, and commercialization. As a well-established leader in China's biotech landscape, the company is recognized for its commitment to developing innovative therapies for complex diseases. Given its long-standing presence and extensive market footprint, 3SBio is not classified as an emerging player. The company has recently made headlines across the Asian pharmaceutical market through a landmark $6 billion licensing agreement with Pfizer for its cancer therapy, SSGJ-707. This deal is particularly notable as it marks a significant move by a major U.S. pharmaceutical company to license a drug from a Chinese biotech firm. Under the agreement, Pfizer receives global rights—excluding China—for the development, manufacturing, and commercialization of the drug.
“3SBio is drawing attention with a landmark licensing deal granting Pfizer global rights (excluding China) to its experimental cancer drug, SSGJ-707. Valued at up to $6 billion, the agreement has fueled market interest and boosted 3SBio’s share price.”
SSGJ-707
Mechanism of Action: Programmed cell death-1 ligand-1 inhibitors Drug Class: Bispecific antibodies Indication: Non-small cell cancer and other Solid tumours Type: Licensing agreement
In-Licensee: Pfizer
Out-Licensor: 3SBio
Focus: SSGJ-707
Upfront Payment: $1.25 billion
Milestone Payment: $4.8 billion
Financial impact: Strategic financial investment that expands Pfizer’s oncology pipeline, strengthens its presence in the Asia-Pacific biotech market
SSGJ-707 has demonstrated strong efficacy and a favorable safety profile both as a monotherapy and in combination with chemotherapy in Phase II studies for advanced non-small cell lung cancer (NSCLC). The trials reported notably high objective response rates (ORR), reaching 72–100% among patients who completed at least two treatment evaluations. Adverse events were generally manageable, primarily involving hypercholesterolemia and elevated liver enzymes. Following a global licensing agreement with 3SBio, Pfizer is advancing the development of SSGJ-707 worldwide, with Phase III trials planned for NSCLC and other solid tumors.
Deal Elevating Pfizer’s Oncology Revenue
In Oncology, Ibrance revenues fell 8% year-over-year to $1.05 billion due to competitive pressures, generic entry, timing of international shipments, and the IRA impact in the U.S., though results aligned with consensus estimates. Pfizer anticipates moderate revenue impact from Ibrance’s loss of exclusivity in 2025, with more significant effects across key products—including Eliquis, Vyndaqel, Xeljanz, and Xtandi—through 2026–2030 as patents expire. The SSGJ-707 licensing deal is expected to bolster Pfizer’s future revenue, adding a promising oncology asset in high-growth areas like NSCLC. While upfront and milestone payments are initial costs, successful development could deliver substantial long-term returns via royalties, milestones, and sales, helping offset revenue losses from patent expirations. Other oncology products, including Xalkori and Braftovi, also faced declining sales, exacerbated by pricing pressures and reimbursement changes in some international markets.
“The SSGJ-707 licensing deal strengthens Pfizer’s oncology pipeline and has the potential to generate significant long-term revenue, offsetting future patent expirations.”
Five-year market revenue of Pfizer's Oncology drugs (2020-2024)
Fig 4: Market revenue of Pfizer's Oncology drugs
Market revenue of 3SBio
Over the past five years, 3SBio has maintained steady revenue growth, with 2024 marking a particularly strong year. Revenue rose 16.5% year-over-year to RMB 9.1 billion, while net profit increased by 34.9% to RMB 2.1 billion. This solid performance was fueled by the sustained growth of core products such as TPIAO and Mandi, alongside effective execution of strategic initiatives. In its interim results for the first half of 2025, the company reported a slight 0.8% decline in revenue to RMB 4,355.5 million compared to the same period in 2024. However, net profit attributable to owners rose sharply by 24.6% to RMB 1,358.2 million, supported by higher other income, gains, and reduced finance costs.
"3SBio delivered strong growth in 2024 with revenue up 16.5% and net profit up 34.9%, and despite a slight revenue dip in early 2025, net profit still rose 24.6%."
Six-year market revenue of 3SBio (2020-H12025)
Fig 5: Market revenue of 3SBio
Inside 3SBio’s Pipeline: Advancing Innovation Across Therapeutic Areas
3SBio's drug pipeline reflects its strong commitment to innovation and therapeutic diversification. The company is actively advancing a broad portfolio of candidates across multiple disease areas, with a particular focus on oncology, autoimmune disorders, nephrology, and dermatology. Notable late-stage assets include SSGJ-707, an experimental cancer therapy that recently gained international attention through a high-profile licensing deal with Pfizer.
In addition to its biologics platform, 3SBio continues to expand its capabilities in biosimilars and next-generation biologics, aiming to address unmet medical needs in both domestic and global markets. The pipeline is supported by robust R&D infrastructure and strategic collaborations, positioning 3SBio as a key player in China’s biopharmaceutical innovation landscape.
Robust and Innovative Oncology Pipeline with Late-Stage Potential
The chemotherapy and oncology pipeline shown in the image demonstrates several strengths, including depth, innovation, and late-stage clinical progress. There are diverse modalities such as monoclonal antibodies (CF20, PD1, VEGF, TGFβ, NGF), bispecific antibodies targeting multiple immune checkpoints (PD1/HER2, PD1/PDL1), and two CAR-T cell therapies directed at CS1/BCMA and SSS41. Notably, several candidates are in advanced stages—Phase III and NDA—highlighting imminent potential for new market launches. This mix of programs addresses multiple cancers and immunotherapy targets, reflecting specialization, innovative science, and sustainable pipeline value by balancing early and late-stage opportunities.
Focused Nephrology Pipeline Advancing Toward Late-Stage Milestones
The nephrology pipeline displayed in the image highlights a focused yet advanced clinical development strategy. Assets are concentrated in later clinical phases, with one candidate in Phase II (SSS17 for heart failure) and another in Phase III (Remitch for chronic liver disease pruritus), indicating that the pipeline is nearing potential regulatory submission and commercialisation stages. The presence of candidates in prestigious late phases demonstrates a mature approach to address significant unmet needs in nephrology, with a strong chance for near-term impact and value creation.
Innovative Autoimmune and Ophthalmology Programs Advancing to Late Stages
The pipeline for auto-immune, ophthalmology, and other therapeutics displays notable breadth and scientific innovation. It includes multiple monoclonal antibodies targeting well-validated immunological pathways (VEGF, IL-17A, IL-1β, IL-4Rα, IL-5, IL-33, TNFα, and TL1A), as well as advanced candidates like Pegsticase and rapamycin nanoparticle formulations. Several assets have progressed to late clinical stages with one NDA and multiple Phase II/III programs, indicating strong opportunities for future approvals and market growth. The inclusion of both small molecules and biologics demonstrates a robust approach to address diverse, high-burden diseases, showcasing a pipeline designed for both scientific impact and commercial success.
Late-Stage Dermatology and Metabolism Pipeline
The dermatology and metabolism pipeline depicted in the image highlights strength through a focus on late-stage development programs. Current assets, such as WS204 Clascoterone, Semaglutide, and Minoxidil Foam for Female Androgenetic Alopecia (AGA), are all in Phase III, illustrating a mature pipeline with significant near-term commercialization potential. The selection of indications addresses prevalent diseases with high patient demand, including hair loss and metabolic conditions, while leveraging proven or novel mechanisms. This approach ensures both scientific relevance and market readiness for the company's portfolio in these therapeutic areas.
