Gyre Therapeutics, Inc. is a commercial-stage biopharmaceutical company specializing in the development and commercialization of small-molecule therapies for organ fibrosis and inflammatory diseases. The company focuses on addressing unmet medical needs in fibrotic conditions, which involve the excessive formation of connective tissue in organs, leading to progressive dysfunction and failure. Gyre Therapeutics operates with a dual presence in the People’s Republic of China (PRC), through its majority-owned subsidiary Gyre Pharmaceuticals Co., Ltd., and in the United States, where it advances clinical-stage pipeline candidates. Its therapeutic focus spans pulmonary, liver, and hematologic diseases, with a strategy centered on leveraging established commercial products to support late-stage development and label expansions.

Gyre Therapeutics generates revenue primarily through the sale of approved small-molecule drugs in the PRC. Its commercial portfolio includes ETUARY® (pirfenidone), a leading antifibrotic therapy for idiopathic pulmonary fibrosis (IPF), which contributed $106.1 million in sales in 2025. The company also markets Etorel® (nintedanib), another standard-of-care therapy for IPF and related interstitial lung diseases, which generated $4.6 million in 2025 following its launch. Additionally, Contiva® (avatrombopag), approved for thrombocytopenia associated with chronic liver disease and idiopathic thrombocytopenia, added $5.5 million in sales in 2025. These products target specialty care settings, including hospitals and clinics, where recurring prescriptions and long-term treatment regimens drive consistent demand. The company’s revenue model relies on direct sales to distributors, who then supply medical institutions and pharmacies across the PRC.

The company operates through the following segments:

• Commercial Portfolio: This segment encompasses the marketing and sale of approved therapies for fibrotic and inflammatory diseases. It includes ETUARY®, Etorel®, and Contiva®, which serve as the financial and operational foundation for the company’s growth strategy. The commercial portfolio targets pulmonary fibrosis, systemic sclerosis-associated interstitial lung disease, and hematologic conditions linked to chronic liver disease. These products are included in the National Reimbursement Drug List (NRDL) in the PRC, enhancing their accessibility and market penetration.

• Pipeline Development: This segment focuses on the research and clinical advancement of small-molecule drug candidates targeting organ fibrosis and related inflammatory pathways. The lead candidate, Hydronidone, is in late-stage development for liver fibrosis associated with chronic hepatitis B (CHB) in the PRC and metabolic dysfunction-associated steatohepatitis (MASH) in the United States. Other pipeline assets include F573 for acute liver failure and acute-on-chronic liver failure, F230 for pulmonary arterial hypertension, and F528 for chronic obstructive pulmonary disease. These programs reflect the company’s commitment to expanding its therapeutic reach across multiple organ systems and disease stages.

Gyre Therapeutics holds a leading position in the PRC’s pulmonary fibrosis market, driven by its first-mover advantage with ETUARY®, which was the first IPF therapy approved in the country in 2011. The company’s commercial infrastructure, including a dedicated sales force of over 400 employees and partnerships with key opinion leaders, strengthens its competitive edge in a market characterized by high barriers to entry. However, the company faces competition from multinational pharmaceutical firms and specialized biotechnology companies, particularly in the IPF space, where OFEV® (nintedanib) generated $76.9 million in PRC sales in 2024. In the liver fibrosis segment, Gyre Therapeutics competes with developers of farnesoid X receptor agonists, fibroblast growth factor 21 analogs, and GLP-1 receptor agonists, among others. The company’s competitive advantages include its established commercial footprint, proprietary intellectual property, and a diversified pipeline targeting high-unmet-need indications. Its ability to secure breakthrough therapy designations and priority reviews from regulatory authorities further accelerates development timelines.

Gyre Therapeutics serves a broad customer base comprising hospitals, specialty clinics, and pharmacies in the PRC. Its products are prescribed by pulmonologists, hepatologists, and hematologists for patients with fibrotic and inflammatory diseases. The company’s commercial portfolio is distributed through a network of regional and national distributors, who supply medical institutions across 30 provinces, autonomous regions, and municipalities. While specific customer names are not disclosed, the company’s academic promotion strategy emphasizes engagement with medical experts and key opinion leaders to drive adoption and clinical education. This approach ensures strong relationships with healthcare providers and enhances market penetration in a highly regulated and competitive environment.