LONDON, Nov. 12, 2025 /PRNewswire/ — With a growing focus on institutional expansion and global client engagement, ATFX Connect welcomes Bjorn Enqvist as its new Head of Business Development. In this role, Bjorn will lead initiatives to expand the firm’s professional and institutional client base and strengthen its multi-asset liquidity and connectivity solutions tailored for clients across key regions.

Bjorn is a highly experienced financial markets professional with more than a decade in institutional sales, liquidity management, and business development within the global FX and CFD industry. Before joining ATFX Connect, he held senior roles at leading firms including Finalto and Advanced Markets, where he played a key role in driving growth, managing client relationships, and delivering tailored liquidity and institutional service solutions.

Reflecting on his appointment, Bjorn Enqvist shared:

“I’m thrilled to join ATFX Connect at such a dynamic stage of its global expansion. The institutional space is evolving quickly, and ATFX Connect stands out for its client-first approach and commitment to service excellence. I look forward to helping strengthen our relationships with institutional clients and further growing our footprint across key markets.”

Hormoz Faryar, Managing Director of Institutional Sales at ATFX Connect, added:

“Bjorn’s extensive background in institutional FX and his proven ability to build strategic partnerships make him a strong addition to our team. Having him on board reinforces ATFX Connect’s commitment to delivering best-in-class institutional solutions and expanding our global reach.”

Bjorn’s appointment further emphasizes ATFX Connect’s mission to enhance its institutional services and support professional clients through tailored liquidity, connectivity, and execution solutions, while also strengthening its growing presence in Cyprus as a key hub for institutional operations across Europe.

About ATFX

ATFX is a leading global fintech broker with a local presence in 24 locations and holds 9 licenses from regulatory authorities, including the UK’s FCA, Australia’s ASIC, Cyprus’ CySEC, the UAE’s SCA, Hong Kong’s SFC, South Africa’s FSCA, Mauritius’ FSC, Seychelles’ FSA, and Cambodia’s SERC. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX delivers exceptional trading experiences to clients worldwide.

For further information on ATFX, please visit ATFX website https://www.atfx.com.

SHENZHEN, China, Nov. 12, 2025 /PRNewswire/ — Tencent Music Entertainment Group (“TME,” or the “Company”) (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the third quarter ended September 30, 2025.

Third Quarter 2025 Financial Highlights

• Total revenues were RMB8.46 billion (US$1.19 billion), representing a 20.6% year-over-year increase, primarily due to strong year-over-year growth in revenues from online music services.
• Revenues from online music services were RMB6.97 billion (US$979 million), representing 27.2% year-over-year growth. Revenues from music subscriptions were RMB4.50 billion (US$632 million), representing 17.2% year-over-year growth. Monthly ARPPU grew to RMB11.9 from RMB10.8 in the same period of 2024.
• Net profit attributable to equity holders of the Company was RMB2.15 billion (US$302 million), representing 36.0% year-over-year growth. Non-IFRS net profit attributable to equity holders of the Company^[1] was RMB2.41 billion (US$338 million), representing 32.6% year-over-year growth.
• Diluted earnings per ADS was RMB1.38 (US$0.19), up from RMB1.01 in the same period of 2024. Non-IFRS diluted earnings per ADS was RMB1.54 (US$0.22), up from RMB1.16 in the same period of 2024.
• Total cash, cash equivalents, term deposits and short-term investments as of September 30, 2025 were RMB36.08 billion (US$5.07 billion).

Mr. Cussion Pang, Executive Chairman of TME, commented, “In the third quarter, we delivered another set of solid results, underpinned by the well-rounded performance of our online music business. Our ongoing innovations in content enrichment, services expansion to include more live experiences continued to fuel consistent subscription revenue growth while boosting momentum in non-subscription services, especially in concerts and artist merchandise. Backed by our strong financial position and operational excellence, we are poised to further broaden our music services and create greater value for the entire music industry.”

Mr. Ross Liang, CEO of TME, continued, “We are pleased that our ecosystem continues to thrive. A creative approach to personalized offerings and experiences, supported by deepening user insights, continued to strengthen user loyalty, leading to further increases in both SVIP penetration and ARPPU. Moving forward, we will further sharpen our core strengths, enhance platform efficiency, and capture emerging opportunities as we continue to drive music creation and consumption.”

Third Quarter 2025 Operational Highlights 

• Key Operating Metrics

Broadened music offerings in different genres and languages to further enrich our content ecosystem.

• Enhanced partnerships with renowned labels and artists to further expand our comprehensive music catalog. For example, 1) Renewed contracts with the Korean label DREAMUS, as well as popular artists including G.E.M., Jason Zhang, and Lay Zhang^[2], to strengthen our collection of top hits. 2) Formed strategic partnerships with renowned Japanese ACG label KING RECORDS and Korean label CEREAL, expanding our collection of anime soundtracks and Korean OSTs.
• Teamed up with leading game developers to broaden game-related music selection. 1) Partnered with Tencent Games to co-produce the Honor of Kings 10th-anniversary theme song, Atlas of Tomorrow, performed by JJ Lin. The success of the song garnered over 600 million social media mentions within two weeks of its release, standing out as one of the year’s most impactful game soundtracks. 2) Entered into an inaugural collaboration with Blizzard Entertainment, introducing 50 original soundtracks from iconic game titles including World of Warcraft and Hearthstone.
• Deepened offerings to strengthen artist-fan connections. 1) The joint release of Lay Zhang’s new digital album ROCK THE HEAVENLY PALACE and its collectible cards drove strong participation and purchases, earning it a spot among the 2025’s top selling albums. 2) Produced the first physical album, My Odyssey, for Bai Lu, which generated high acclaim from fans and achieved strong sales.

Proven ability to stage live concerts enabled us to scale and extend services to international markets.

• Organized and staged large-scale concert tours, home and abroad. 1) After successfully hosting G-DRAGON’s concerts G-DRAGON 2025 WORLD TOUR [Übermensch] in the second quarter, we hosted 14 additional sold-out shows for him in the third quarter. Such shows expanded across six cities – including Sydney, Melbourne, and Kuala Lumpur, drawing over 150,000 attendees, significantly elevating our global presence. 2) Organized and supported major concert tours for renowned artists such as Fiona Sit, TIA RAY, Angela Zhang and GAI, amplifying their reach. Notably, we helped GAI upscale his concert from an arena-level to a stadium-level event.
• Expanded our proprietary concert IP portfolio with the launch of the TMElive International Music Awards (TIMA), celebrating international artists’ achievements and enhancing our industry influence. The inaugural TIMA showcased 22 acclaimed artists and groups from China and a number of Asian countries — including acts by BILLKIN, PP KRIT, aespa and SMTR25, garnering over 20,000 attendees over two days. Meanwhile, our annual flagship TMEA 2025 attracted 35 artists and groups, drawing over 10,000 attendees and achieving remarkable online engagement.

Innovation and differentiated membership offerings improved user service and user loyalty.

• Remained at the forefront of designing delightful music journeys for users. 1) Integration of Apple’s Liquid Glass mode on iOS26, Liquid Glass themes and player to Android, as well as full Harmony OS adaption significantly improved visual and interactive experiences. 2) Our AI-generated lyrics card function, and AI-powered seamless multi-mode song transition feature Automix, both of which enhanced immersive listening experiences.
• Multi-pronged membership offerings contributed to improved engagement and conversion. Across our freemium mode, ads membership, and standard membership, differentiated services were tailored to meet distinct user needs. Users can conveniently unlock additional tools and perks by opting for any plan that best suits their preferences. For example, our newly introduced ads membership observed a growing propensity among freemium users, with their daily time spent on the platform trending upward.

Both SVIP penetration and ARPPU further improved thanks to superior streaming experiences and enriching artist-related benefits.

• Accelerated the rollout and application of premium sound features. QQ Music’s newly introduced three-dimensional immersive DTS Booming External Speaker and Kugou Music’s Viper Ultra Sound 2.0 were widely adopted, highly effective in converting and sustaining SVIP.
• Leveraged user insights and rich content to widen innovative offerings. 1) Privileged access to digital albums and collectible NFC cards such as Eason Chan’s FEAR and DREAMS as well as i-dle’s self-titled Japanese EP was some of the key draws driving increased SVIP adoption. 2) Expanded Starlight cards with more popular artists line-ups to domestic and international audience was another success.
• Through bubble, we continued to enrich fan-artist connections. 1) Expanded bubble artist roster by onboarding 15 musicians from domestic labels including Hu Xia, NexT1DE, and R.E.D to enrich content diversity which in turn attracted a broader user base. Ongoing product feature iterations, such as AI-powered in-app localization, have also boosted user retention. 2) Introduced more fun and engaging badges to celebrate artists’ key moments, fostering a deeper sense of connection and community.

Third Quarter 2025 Financial Review

Total revenues increased by RMB1.45 billion, or 20.6%, to RMB8.46 billion (US$1.19 billion) from RMB7.02 billion in the same period of 2024.

• Revenues from online music services increased by 27.2% to RMB6.97 billion (US$979 million), compared with RMB5.48 billion in the same period of 2024. The increase was driven by solid growth in music subscription revenues, supplemented by growth in revenues from offline performances, advertising services and artist-related merchandise. Revenues from music subscriptions were RMB4.50 billion (US$632 million), representing 17.2% year-over-year growth, compared with RMB3.84 billion in the same period of 2024. The rapid growth was mainly driven by the improved monthly ARPPU, which increased to RMB11.9 in the third quarter of 2025 from RMB10.8 in the same period of 2024. This growth of monthly ARPPU was primarily due to expansion of the SVIP membership program, as we continued to expand SVIP membership privileges for our users. Revenues from offline performances achieved robust year-over-year growth. We successfully hosted G-DRAGON’s concerts across six cities, achieving strong ticket sales. The year-over-year increase in revenues from advertising was primarily due to our more diversified product portfolio and innovative ad formats, such as ad-supported mode. Additionally, revenues from artist-related merchandise also generate strong year-over-year growth.
• Revenues from social entertainment services and others decreased by 2.7% to RMB1.49 billion (US$210 million) from RMB1.54 billion in the same period of 2024.

Cost of revenues increased by 18.8% year-over-year to RMB4.78 billion (US$672 million), mainly due to increased costs related to offline performances, IP related costs, such as costs for artist-related merchandise, and advertising agency fees. Meanwhile, revenue sharing fees decreased, resulted from declines in both revenue sharing ratio and revenues from social entertainment services.

Gross margin increased to 43.5% from 42.6% in the same period of 2024, primarily due to increased revenues from music subscriptions and advertising services, alongside a lower revenue sharing ratio for social entertainment services, and partly offset by increased revenues from offline performances and artist-related merchandise.

Total operating expenses increased by 7.6% year-over-year to RMB1.31 billion (US$184 million). Operating expenses as a percentage of total revenues decreased to 15.5% from 17.4% in the same period of 2024. 

• Selling and marketing expenses were RMB260 million (US$37 million), representing an 18.2% year-over-year increase. The increase was primarily due to higher content promotion expenses and channel spending.
• General and administrative expenses were RMB1.05 billion (US$148 million), representing a 5.3% year-over-year increase. The increase was primarily due to growth in employee-related expenses.

Total operating profit was RMB2.71 billion (US$381 million) in the third quarter of 2025, representing a 26.4% year-over-year increase.

Income tax expenses for the third quarter of 2025 were RMB477 million (US$67 million), compared with RMB367 million in the same period of 2024. We accrued withholding income tax of RMB118 million (US$17 million) in the third quarter of 2025.

For the third quarter of 2025, net profit was RMB2.21 billion (US$311 million) and net profit attributable to equity holders of the Company was RMB2.15 billion (US$302 million). Non-IFRS net profit was RMB2.48 billion (US$348 million) and non-IFRS net profit attributable to equity holders of the Company was RMB2.41 billion (US$338 million). Please refer to the section in this press release titled “Non-IFRS Financial Measure” for details.

Basic and diluted earnings per American Depositary Shares (“ADS”) for the third quarter of 2025 were RMB1.40 (US$0.20) and RMB1.38 (US$0.19), respectively; non-IFRS basic and diluted earnings per ADS were RMB1.56 (US$0.22) and RMB1.54 (US$0.22), respectively. For the third quarter of 2025, the Company had weighted averages of 1.54 billion basic and 1.56 billion diluted ADSs outstanding, respectively. Each ADS represents two of the Company’s Class A ordinary shares.

As of September 30, 2025, the combined balance of the Company’s cash, cash equivalents, term deposits and short-term investments amounted to RMB36.08 billion (US$5.07 billion), compared with RMB34.92 billion as of June 30, 2025.

Environmental, Social, and Governance (“ESG”)
In its seventh consecutive year, we added new elements to TME’s Music Garden Space program to amplify its reach and impact. This time, we extended invitations to WeSing users to redeem their ads credits on our platform to support music creation. The campaign attracted 380,000 participants, mobilizing broader public support to make music more accessible.

Exchange Rate
This announcement contains translations of certain RMB amounts into U.S. dollars (“USD”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to USD were made at the rate of RMB7.1190 to US$1.00, the noon buying rate in effect on September 30, 2025, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or USD amounts referred could be converted into USD or RMB, as the case may be, at any particular rate or at all. For analytical presentation, all percentages are calculated using the numbers presented in the financial statements contained in this earnings release.

Non-IFRS Financial Measure
The Company uses non-IFRS net profit for the period, which is a non-IFRS financial measure, in evaluating its operating results and for financial and operational decision-making purposes. TME believes that non-IFRS net profit helps identify underlying trends in the Company’s business that could otherwise be distorted by the effect of certain expenses that the Company includes in its profit for the period. TME believes that non-IFRS net profit for the period provides useful information about its results of operations, enhances the overall understanding of its past performance and future prospects and allows for greater visibility with respect to key metrics used by its management in its financial and operational decision-making.

Non-IFRS net profit for the period should not be considered in isolation or construed as an alternative to operating profit, net profit for the period or any other measure of performance or as an indicator of its operating performance. Investors are encouraged to review non-IFRS net profit for the period and the reconciliation to its most directly comparable IFRS measure. Non-IFRS net profit for the period presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data. TME encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.

Non-IFRS net profit for the period represents profit for the period excluding amortization of intangible and other assets arising from business acquisitions or combinations, share-based compensation expenses, net losses/gains from investments and related income tax effects.

Please see the “Unaudited Non-IFRS Financial Measure” included in this press release for a full reconciliation of non-IFRS net profit for the period to its net profit for the period.

About Tencent Music Entertainment
Tencent Music Entertainment Group (NYSE: TME and HKEX: 1698) is the leading online music and audio entertainment platform in China, operating the country’s highly popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. TME’s mission is to create endless possibilities with music and technology. TME’s platform comprises online music, online audio, online karaoke, music-centric live streaming and online concert services, enabling music fans to discover, listen, sing, watch, perform and socialize around music. For more information, please visit ir.tencentmusic.com.

Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC and the HKEX. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact
Tencent Music Entertainment Group
ir@tencentmusic.com
+86 (755) 8601-3388 ext. 885034

-Earnings Call Scheduled for 7:30 p.m. ET on November 19, 2025-

SHANGHAI, Nov. 12, 2025 /PRNewswire/ — FinVolution Group (“FinVolution”, or the “Company”) (NYSE: FINV), a leading fintech platform, today announced that it will report its third quarter 2025 unaudited financial results, on Wednesday, November 19, 2025, after the close of U.S. markets.

The Company’s management will host an earnings conference call at 7:30 PM U.S. Eastern Time on November 19, 2025 (8:30 AM Beijing/Hong Kong Time on November 20, 2025).

Dial-in details for the earnings conference call are as follows:

Participants should dial-in at least 5 minutes before the scheduled start time and ask to be connected to the call for “FinVolution Group”.

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://ir.finvgroup.com.

A replay of the conference call will be accessible approximately one hour after the conclusion of the live call until November 26, 2025, by dialing the following telephone numbers:

About FinVolution Group

FinVolution Group is a leading fintech platform with strong brand recognition in China, Indonesia and the Philippines, connecting borrowers of the young generation with financial institutions. Established in 2007, the Company is a pioneer in China’s online consumer finance industry and has developed innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company’s platforms, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of June 30, 2025, the Company had 223.6 million cumulative registered users across China, Indonesia and the Philippines.

For more information, please visit https://ir.finvgroup.com.

For investor and media inquiries, please contact:

In China:
FinVolution Group
Head of Capital Markets
Yam Cheng
Tel: +86 (21) 8030-3200 Ext. 8601
E-mail: ir@xinye.com

Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: finv@tpg-ir.com  

In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: finv@tpg-ir.com

BEIJING, Nov. 12, 2025 /PRNewswire/ — Hello Group Inc. (NASDAQ: MOMO) (the “Company”), a leading player in Asia’s online social networking space, today announced that it will release its unaudited financial results for the third quarter ended September 30, 2025 before U.S. markets open on Wednesday, December 10, 2025.

Hello Group’s management will host an earnings conference call on Wednesday, December 10, 2025, at 7:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing / Hong Kong Time on the same day).

Preregistration Information

Participants can register for the conference call by navigating to https://s1.c-conf.com/diamondpass/10051507-10xa67.html. Upon registration, each participant will receive details for the conference call, including dial-in numbers, conference call passcode and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.

A telephone replay of the call will be available after the conclusion of the conference call through December 17, 2025. The dial-in details for the replay are as follows:

Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of Hello Group’s website at https://ir.hellogroup.com.

About Hello Group Inc.

We are a leading player in Asia’s online social networking space. Through Momo, Tantan and other properties within our product portfolio, we enable users to discover new relationships, expand their social connections and build meaningful interactions. Momo is a mobile application that connects people and facilitates social interactions based on location, interests and a variety of online recreational activities. Tantan, which was added into our family of applications through acquisition in May 2018, is a leading social and dating application. Tantan is designed to help its users find and establish romantic connections as well as meet interesting people. Starting from 2019, we have incubated a number of other new apps, such as Hertz, Soulchill, Duidui, which target more niche markets and more selective demographics.

For investor and media inquiries, please contact:

Hello Group Inc.

Investor Relations
Phone: +852-3157-1669
Email: ir@hellogroup.com 

Christensen

In China
Ms. Xiaoyan Su
Phone: +86-10-5900-1548
E-mail: Xiaoyan.Su@christensencomms.com 

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com

TAIPEI, Nov. 12, 2025 /PRNewswire/ — EirGenix Inc.(TWSE: 6589) today announced that it has entered into a second global exclusive licensing agreement with international biosimilar leader Sandoz AG (SIX:SDZ/OTCQX:SDZNY) for the commercialization of its independently developed breast cancer biosimilar, EG1206A (Pertuzumab Biosimilar to Roche Perjeta®), covering all territories except Taiwan, Mainland China, Macau, South Korea, Mongolia, Brunei, Cambodia, Indonesia, Laos, Myanmar, the Philippines, and Japan. The agreement further strengthens the two companies’ collaborative development of the HER2 biosimilar product. Under the terms of the agreement, EirGenix will receive a total up to USD 152 million of upfront and milestone payments. In addition, EirGenix will also be entitled to a profit share once the product is launched in the licensed territory plus potential sales incentives based on market performance. EirGenix will be responsible for product development, manufacturing, and supply.

EG1206A has completed its pharmacokinetic (PK) clinical study, and last month received positive feedback from both the U.S. FDA and the European Medicines Agency (EMA), confirming that the product qualifies for an abbreviated development pathway, allowing for the waiver of Phase III comparative efficacy trials. This agreement marks another major milestone and breakthrough in EirGenix’s biosimilar development efforts. This partnership further strengthens the existing collaboration between Sandoz and EirGenix. The two companies previously signed a global commercialization agreement for EG12014 (Trastuzumab Biosimilar in both 150 mg and 420 mg formulations). EG12014 has already been approved by the European Commission and is currently under BLA review by the U.S. FDA.

Globally, there are approximately 2.3 million breast cancer patients, of which about 20% are diagnosed with HER2-positive disease. The Trastuzumab and Pertuzumab combination therapy has become the current standard of care for these patients. Recent studies also suggest that Pertuzumab combined with Trastuzumab deruxtecan (Enhertu®) may become the new first-line treatment for HER2-positive metastatic breast cancer, indicating strong potential for future market expansion of EG1206A. In addition to its first-generation product EG12014 already on the market, the launch of second-generation EG1206A will further enhance treatment options for patients with HER2-positive breast cancer. According to Roche’s 2024 annual report, global sales of Perjeta® reached CHF 3.62 billion (~ USD 4 billion).

Sandoz is the global leader in affordable medicines, with a growth strategy driven by its Purpose: pioneering access for patients. More than 20,000 people of 100 nationalities work together to ensure 900 million patient treatments are provided by Sandoz, generating substantial global healthcare savings and an even larger social impact. Its leading portfolio of approximately 1,300 products addresses diseases from the common cold to cancer. Headquartered in Basel, Switzerland, Sandoz traces its heritage back to 1886. Its history of breakthroughs includes Calcium Sandoz in 1929, the world’s first oral penicillin in 1951, and the world’s first biosimilar in 2006. In 2024, Sandoz recorded net sales of USD 10.4 billion.

EirGenix has successfully utilized reverse engineering technologies to develop multiple biosimilar products. This new agreement underscores EirGenix’s global competitiveness, technical excellence, and internationalization capabilities. With regulatory trends increasingly favorable, EirGenix is accelerating the development of four HER2-targeted antibody programs, expanding its in-house product pipeline as well as CDMO services for additional biosimilar projects. As global demand for biosimilar R&D and manufacturing continues to grow, EirGenix’s technical expertise, production capacity, and large-scale facilities have attracted strong attention from international pharmaceutical companies. The increased utilization of EirGenix’s two commercial production lines in Zhubei further demonstrates its rapid progress. EirGenix is poised to become a key development and manufacturing partner in the global biosimilar landscape and continue its strong growth trajectory.

TAIPEI, Nov. 12, 2025 /PRNewswire/ — EirGenix Inc.(TWSE: 6589) today announced that it has entered into a second global exclusive licensing agreement with international biosimilar leader Sandoz AG (SIX:SDZ/OTCQX:SDZNY) for the commercialization of its independently developed breast cancer biosimilar, EG1206A (Pertuzumab Biosimilar to Roche Perjeta®), covering all territories except Taiwan, Mainland China, Macau, South Korea, Mongolia, Brunei, Cambodia, Indonesia, Laos, Myanmar, the Philippines, and Japan. The agreement further strengthens the two companies’ collaborative development of the HER2 biosimilar product. Under the terms of the agreement, EirGenix will receive a total up to USD 152 million of upfront and milestone payments. In addition, EirGenix will also be entitled to a profit share once the product is launched in the licensed territory plus potential sales incentives based on market performance. EirGenix will be responsible for product development, manufacturing, and supply.

EG1206A has completed its pharmacokinetic (PK) clinical study, and last month received positive feedback from both the U.S. FDA and the European Medicines Agency (EMA), confirming that the product qualifies for an abbreviated development pathway, allowing for the waiver of Phase III comparative efficacy trials. This agreement marks another major milestone and breakthrough in EirGenix’s biosimilar development efforts. This partnership further strengthens the existing collaboration between Sandoz and EirGenix. The two companies previously signed a global commercialization agreement for EG12014 (Trastuzumab Biosimilar in both 150 mg and 420 mg formulations). EG12014 has already been approved by the European Commission and is currently under BLA review by the U.S. FDA.

Globally, there are approximately 2.3 million breast cancer patients, of which about 20% are diagnosed with HER2-positive disease. The Trastuzumab and Pertuzumab combination therapy has become the current standard of care for these patients. Recent studies also suggest that Pertuzumab combined with Trastuzumab deruxtecan (Enhertu®) may become the new first-line treatment for HER2-positive metastatic breast cancer, indicating strong potential for future market expansion of EG1206A. In addition to its first-generation product EG12014 already on the market, the launch of second-generation EG1206A will further enhance treatment options for patients with HER2-positive breast cancer. According to Roche’s 2024 annual report, global sales of Perjeta® reached CHF 3.62 billion (~ USD 4 billion).

Sandoz is the global leader in affordable medicines, with a growth strategy driven by its Purpose: pioneering access for patients. More than 20,000 people of 100 nationalities work together to ensure 900 million patient treatments are provided by Sandoz, generating substantial global healthcare savings and an even larger social impact. Its leading portfolio of approximately 1,300 products addresses diseases from the common cold to cancer. Headquartered in Basel, Switzerland, Sandoz traces its heritage back to 1886. Its history of breakthroughs includes Calcium Sandoz in 1929, the world’s first oral penicillin in 1951, and the world’s first biosimilar in 2006. In 2024, Sandoz recorded net sales of USD 10.4 billion.

EirGenix has successfully utilized reverse engineering technologies to develop multiple biosimilar products. This new agreement underscores EirGenix’s global competitiveness, technical excellence, and internationalization capabilities. With regulatory trends increasingly favorable, EirGenix is accelerating the development of four HER2-targeted antibody programs, expanding its in-house product pipeline as well as CDMO services for additional biosimilar projects. As global demand for biosimilar R&D and manufacturing continues to grow, EirGenix’s technical expertise, production capacity, and large-scale facilities have attracted strong attention from international pharmaceutical companies. The increased utilization of EirGenix’s two commercial production lines in Zhubei further demonstrates its rapid progress. EirGenix is poised to become a key development and manufacturing partner in the global biosimilar landscape and continue its strong growth trajectory.