By Fineline Cube 
BeOne Medicines Ltd. (NASDAQ: ONC, HKG: 6160, SHA: 688235) released its third‑quarter 2025 financial results, reporting total revenue of $1.4 billion, up 40 % from the $1.0 billion recorded in Q3 2024. 100 % of the revenue came from product sales, with the U.S. market remaining the dominant driver.
Key Financial Highlights
| Metric | Q3 2025 | Q3 2024 | YoY Change |
|---|---|---|---|
| Total revenue | $1.4 B | $1.0 B | +40 % |
| U.S. product revenue | $743 M | $504 M | +47 % |
| BRUKINSA (U.S.) sales | $739 M | $503 M | +47 % |
| BRUKINSA (Europe) sales | $163 M | $97 M | +68 % |
| TEVIMBRA sales (global) | $191 M | $163 M | +17 % |
- BRUKINSA (zanubrutinib) continued to lead the BTK‑inhibitor class, expanding new‑patient market share across all approved indications.
- European growth was broad‑based, with double‑digit gains in Germany, Italy, Spain, France and the United Kingdom.
- TEVIMBRA (tislelizumab) contributed a modest but steady uplift, reflecting growing adoption in its oncology label portfolio.
Strategic Transactions
- Royalty Pharma Sale – BeOne entered a definitive agreement to sell its royalty rights on global (non‑China) sales of tarlatamab (IMDELLTRA), the Amgen‑licensed CD‑28 agonist, for up to $950 million. The upfront cash infusion is expected to fund late‑stage development programs and shareholder returns.
- Patent Litigation Resolution – The U.S. Patent and Trademark Office’s final written decision invalidated Pharmacyclics’ U.S. Patent No. 11,672,803 covering BRUKINSA. Pharmacyclics, LLC elected not to appeal, ending the infringement lawsuit with finality and removing a significant legal cloud over BeOne’s flagship product.
Outlook & Analyst Reaction
- Guidance: Management reaffirmed its 2025 full‑year revenue target of $5.5 billion–$5.9 billion, citing continued BRUKINSA uptake and the upcoming launch of next‑generation indications.
- Equity impact: BeOne shares rose 2.4 % in early trading following the earnings release.
- Sell‑side commentary: Several analysts upgraded BeOne to “Buy,” highlighting the royalty‑sale proceeds and the patent‑clearance win as catalysts for cash‑flow acceleration and margin expansion.
Forward‑Looking Statements
This release contains forward‑looking statements regarding BeOne Medicines’ financial performance, strategic transactions and regulatory outlook. Actual results may differ due to risks and uncertainties detailed in the company’s filings with the SEC, HKEX and SSE.-Fineline Info & Tech