BeiGene, Ltd. reported significant financial growth in its latest quarterly results, with total revenues reaching $1.12 billion for the three months ended March 31, 2025, a 49% increase from $751.7 million in the same period last year. The surge in revenue was primarily driven by a 62% increase in product sales of its leading drug, BRUKINSA, which generated $792 million in global sales. Collaboration revenue also saw a notable rise, increasing by 84.8% to $8.7 million, largely due to contributions from agreements with Novartis and Amgen.
The company achieved a net income of $1.3 million, a substantial turnaround from a net loss of $251.2 million in the first quarter of 2024. This improvement in profitability was attributed to a gross profit of $952.3 million, reflecting a gross margin of 85.1%, up from 83.3% in the prior year. Operating expenses increased to $941.2 million, up 6% from $888.1 million, driven by higher research and development costs and selling, general, and administrative expenses, which rose by 4.6% and 7.5%, respectively.
In terms of operational developments, BeiGene's employee headcount exceeded 11,000, reflecting its growth and expansion efforts. The company has also made strategic moves, including the recent approval to rename itself to BeOne Medicines Ltd. and plans to redomicile to Switzerland. Additionally, BeiGene announced the discontinuation of its clinical development program for ociperlimab, an anti-TIGIT antibody, while also securing a positive opinion from the European Medicines Agency for TEVIMBRA as a first-line treatment for small cell lung cancer.
Geographically, the U.S. market accounted for $567.2 million of total revenue, a significant increase from $351.5 million in the previous year, while revenue from China rose to $399.6 million. The company continues to expand its market share, particularly with BRUKINSA, which has become the leader in new chronic lymphocytic leukemia patient starts across all lines of therapy. Looking ahead, BeiGene anticipates continued growth driven by its late-stage pipeline and plans to host an Investor R&D Day on June 26, 2025, to discuss future developments and strategies.
About BeiGene, Ltd.
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