BeiGene (NASDAQ: BGNE; HKG: 6160; SHA: 688235) reported robust second-quarter 2024 results, highlighting significant corporate advancements that position the company for future global expansion. For the first half of 2024, BeiGene achieved total operating revenue of USD 1.6808 billion, reflecting a 61.1% year-on-year (YOY) increase. Product revenue surged by 73.0% YOY to USD 1.6681 billion, while net loss narrowed by 49.1% to USD 371.6 million.
The company has three in-house developed, approved therapies: the BTK inhibitor Brukinsa (zanubrutinib), the PD-1 inhibitor Tevimbra (tislelizumab), and the PARP inhibitor pamiparib. Brukinsa generated net sales of USD 1.1259 billion, marking a 116.7% increase and securing over 70 market approvals. Tevimbra contributed USD 303.7 million in net sales, up 14.9%, with approvals across China, the U.S., EU, UK, and Australia.
Additionally, sales of licensed products from Amgen nearly doubled in China, reaching USD 162 million in the first half of the year, driven by a significant increase in Xgeva sales, which totaled USD 98.4 million (+122.9%).
BeiGene continues to prioritize research and development, with R&D expenses rising 10.1% YOY to USD 915.1 million. The company has built a clinical team of 3,000 and a commercialization team of 3,700, including 500 personnel in North America and Europe. As of June 30, 2024, BeiGene’s financial position remains strong, with USD 2.6 billion in cash and cash equivalents.- Flcube.com
