BeOne Medicines Ltd. (NASDAQ: ONC, HKG: 6160, SHA: 688235) announced Q4 and full‑year 2025 financial results, with global revenue reaching USD 5.3 billion (up 40% YOY) and GAAP net profit of USD 287 million. The company’s BTK inhibitor Brukinsa (zanubrutinib) emerged as the primary growth driver, with global sales of USD 3.9 billion (+49% YOY), while 2026 revenue guidance is set at USD 6.2–6.4 billion.
Financial Performance Summary
Metric
Q4 2025
Full‑Year 2025
YOY Growth
Global Total Revenue
USD 1.5 B
USD 5.3 B
Q4: +33%; FY: +40%
GAAP Net Profit
USD 67 M
USD 287 M
—
Product Revenue Breakdown
Product
Q4 2025
Full‑Year 2025
YOY Growth
Brukinsa (zanubrutinib) – Global
USD 1.1 B
USD 3.9 B
Q4: +38%; FY: +49%
— US Sales
USD 845 M
USD 2.8 B
Q4: +37%; FY: +45%
Tislelizumab (PD‑1) – Global
USD 182 M
USD 737 M
Q4: +18%; FY: +19%
Amgen‑Licensed Products – Global
USD 112 M
USD 486 M
Q4: +11%; FY: +33%
2026 Revenue Guidance
Parameter
Guidance
Full‑Year Revenue
USD 6.2 B – 6.4 B
Implied Growth
~ 17–21% vs. 2025
Growth Drivers
Brukinsa US leadership + European/global expansion
Strategic Highlights
Brukinsa Market Leadership: The BTK inhibitor continues to capture share from Imbruvica (ibrutinib) and Calquence (acalabrutinib) in the US and Europe, driven by head‑to‑head efficacy data and differentiated safety profile.
US Revenue Concentration: With USD 2.8 billion (53% of total) from US Brukinsa sales, BeOne demonstrates successful execution in the world’s largest oncology market.
Tislelizumab Steady Growth: The PD‑1 inhibitor maintains double‑digit growth despite intense domestic competition, supported by differentiated dosing and global partnership revenues.
Profitability Inflection:USD 287 million GAAP net profit marks BeOne’s transition to sustainable profitability following years of heavy R&D investment.
Market Context
Factor
Impact
BTK Inhibitor Market
~ $8 billion globally; Brukinsa gaining share through superior efficacy in CLL and mantle cell lymphoma
China Biotech Globalization
BeOne’s $5.3B revenue and US market success validate Chinese biotech’s ability to compete with multinational pharma
Competitive Dynamics
AbbVie’s Imbruvica faces patent cliffs; BeOne positioned to capture switching patients and treatment‑naïve cases
Forward‑Looking Statements This brief contains forward‑looking statements regarding 2026 revenue achievement, Brukinsa market share expansion, and global regulatory milestones. Actual results may differ due to risks including competitive responses, pricing pressure, and reimbursement negotiations.-Fineline Info & Tech
By Fineline Cube 