BeiGene Reports Over 5.3 Billion Yuan in Q1 2024, Boosts Overseas Market Penetration

BeiGene, a leading pharmaceutical company, has shown exceptional success in the first quarter of 2024, with total revenue exceeding 5.3 billion yuan. This achievement underscores the company's rapid growth and its expanding influence in global markets.

The recently published Q1 2024 financial report from BeiGene reveals that the company earned a total revenue of 5.359 billion yuan, which represents a 74.8% increase compared to the previous year. The global product revenue was particularly impressive, reaching 5.325 billion yuan, an 89.6% year-on-year rise. This substantial growth was largely driven by two key products, Baiyueze® and Baizean®, which together contributed nearly 4.5 billion yuan in sales.

Baiyueze®, noted as the first "billion-dollar molecule" in China, experienced a staggering sales increase of 140.2% in Q1 2024, generating 3.476 billion yuan in revenue. Its success is primarily due to its effectiveness in treating chronic lymphocytic leukemia (CLL), where it has captured a significant market share. In the United States, Baiyueze® accounted for 70% of its sales revenue, amounting to 2.496 billion yuan, which marks a year-on-year growth of 162.7%. Additionally, Baiyueze® saw remarkable growth in Europe, with a 256.8% increase in sales, significantly enhancing its market presence. In the domestic market, it achieved sales revenue of 413 million yuan, reflecting a 25.5% growth.

Baizean®, another essential product developed by BeiGene, also displayed considerable growth in Q1 2024, with total sales revenue reaching 1.044 billion yuan, which is a 32.8% increase from the previous year. In the realm of PD-1 inhibitors in China, Baizean® has secured a leading market share and has received regulatory approvals for 12 indications in the domestic market. Globally, Baizean® is expanding rapidly, securing approvals in several regions, including the European Union, the United Kingdom, and the United States. In Europe, Baizean® has been approved for three indications of non-small cell lung cancer, following its initial approval for esophageal squamous cell carcinoma (ESCC). In the United States, Baizean® received its first indication approval for the second-line treatment of ESCC, with a launch anticipated in the second half of 2024. Its inclusion in the National Comprehensive Cancer Network (NCCN) guidelines for ESCC further endorses its high-quality research and effectiveness.

Building on the success of Baiyueze® and Baizean®, BeiGene is accelerating the progress of its drug development pipeline, boasting a diverse and comprehensive portfolio of investigational drugs. In the area of solid tumors, BeiGene is pushing forward with several innovative projects, including pan-KRAS inhibitors, MTA synergistic PRMT5 inhibitors, EGFR-CDAC, CEA-ADC, and FGFR2b-ADC, targeting various cancers such as lung, breast, and gastrointestinal cancers. In hematology, BeiGene is advancing the research of the BCL-2 inhibitor sonrotoclax, with four registration clinical trials currently ongoing, including a global Phase 3 trial in combination with Baiyueze® for the first-line treatment of CLL. Additionally, BTK CDAC has initiated two expansion cohort studies and is expected to begin a Phase 3 clinical trial for relapsed/refractory CLL by the end of 2024.

BeiGene's impressive performance in Q1 2024, with revenue surpassing 5.3 billion yuan, highlights the company's rapid growth and strengthening global presence. The significant sales growth of its core products, Baiyueze® and Baizean®, reflects its commitment to innovation and ability to capture substantial market share. With a robust pipeline of investigational drugs, BeiGene is well-positioned to enhance its operational efficiency and achieve further breakthroughs in the coming years.