China-based biotechnology company BeiGene Ltd (NASDAQ: BGNE; HKG: 6160; SHA: 688235) has announced a proposed change of its English name to BeOne Medicines Ltd. This rebranding underscores the company’s dedication to developing innovative medicines aimed at eliminating cancer and its intention to partner with the global community to serve a broader patient base. Subject to shareholder approval, the company’s stock ticker on Nasdaq will be changed to “ONC”.
Strategic Growth and Financial Performance
The rebranding is a component of BeOne Medicines Ltd’s comprehensive strategic growth plan. The company has achieved significant financial milestones, with total revenues reaching USD 1 billion in the third quarter of this year. This robust performance is attributed to the strong product growth in the US and Europe, reflecting the company’s expanding global footprint and commitment to innovation in oncology.
Investment in R&D and Manufacturing
BeOne Medicines Ltd has demonstrated its long-term commitment to clinical research and development with the opening of its flagship clinical R&D and manufacturing facility at the Princeton West Innovation Campus in Hopewell, New Jersey. The USD 800 million investment in this facility in July signifies the company’s dedication to advancing cutting-edge treatments and improving patient outcomes worldwide.-Fineline Info & Tech
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