BeiGene Ltd (NASDAQ: BGNE; HKG: 6160; SHA: 688235), a China-based biotech company, has released its Q3 2024 financial results, achieving total operating revenue of USD 1.002 billion, marking a 28% year-on-year (YOY) increase. Product revenue within this total saw a substantial 67% YOY rise to USD 993 million. For the first nine months, total and product revenues reached USD 2.682 billion and USD 2.661 billion, respectively, up 47% and 71% YOY.
Regional Sales Performance
By region, US sales amounted to USD 505 million, a 27% YOY increase. China sales reached USD 376 million, up 31% YOY. Europe saw sales of USD 98.27 million, a 15% YOY increase, and other international markets experienced a remarkable 129% YOY growth to USD 219 million.
Key Drug Performance
Brukinsa (zanubrutinib), BeiGene’s BTK inhibitor with one of the broadest labels in its class, generated USD 690 million in global sales, with the majority coming from overseas markets. US sales of Brukinsa totaled USD 504 million in Q3 2024, an 87% increase over the prior-year period, with over 60% of the quarter-over-quarter demand growth attributed to expanded use in chronic lymphocytic leukemia (CLL). In Europe, Brukinsa sales reached USD 97 million in Q3 2024, a 217% increase, driven by increased market share across major markets including Germany, Italy, Spain, France, and the UK. Sales in China amounted to USD 67.8 million, up 43% YOY, and in other markets, sales reached USD 21.4 million, up 125% YOY.
Tevimbra and Amgen In-Licensed Products
BeiGene’s PD-1 inhibitor Tevimbra (tislelizumab) generated USD 163 million in sales, a 13% YOY increase, all derived from China. The company anticipates that the newly added indication for Tevimbra will be covered by the National Reimbursement Drug List (NRDL) in 2025, without an expected price reduction. In-licensed products from Amgen saw a 101.5% YOY increase to USD 101.6 million in sales in China, primarily driven by Xgeva (denosumab).-Fineline Info & Tech
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