BeiGene Reports Exceed 5.3 Billion Yuan in Q1 2024, Accelerating Penetration of Overseas Markets
10 May 2024
Drug ApprovalPhase 3
BeiGene, a leading pharmaceutical company, has achieved remarkable success in the first quarter of 2024. With total revenue surpassing 5.3 billion yuan, the company has witnessed substantial growth and made significant strides in penetrating global markets.
BeiGene recently released its Q1 2024 financial report, revealing a total revenue of 5.359 billion yuan, representing a remarkable year-on-year growth of 74.8%. The global product revenue reached an impressive 5.325 billion yuan, marking a substantial increase of 89.6%. Notably, two core products, Baiyueze® and Baizean®, played a pivotal role in driving these exceptional results, contributing nearly 4.5 billion yuan in sales.
Baiyueze®, the first "billion-dollar molecule" in China, witnessed an outstanding sales growth of 140.2% in Q1 2024, generating revenue of 3.476 billion yuan. This remarkable achievement can be attributed to its dominance in the treatment of chronic lymphocytic leukemia (CLL), where it has captured a significant market share. In the United States alone, Baiyueze® accounted for 70% of the sales revenue, amounting to 2.496 billion yuan, reflecting a substantial year-on-year growth of 162.7%. Additionally, the European market experienced a significant surge in Baiyueze® sales, with a remarkable growth rate of 256.8%, further expanding the market share. In the domestic market, Baiyueze® achieved sales revenue of 413 million yuan, representing a growth rate of 25.5%.
Baizean®, another core self-developed product of BeiGene, also showcased exceptional performance in Q1 2024, with total sales revenue of 1.044 billion yuan, reflecting a growth rate of 32.8%. Particularly in the field of PD-1 inhibitors in China, Baizean® has established a leading market share. To date, Baizean® has obtained regulatory approvals for 12 indications in the domestic market. Furthermore, the global expansion of Baizean® has been accelerating, with regulatory approvals secured in various regions, including the European Union, the United Kingdom, and the United States. In the European market, Baizean® received approval for the treatment of three indications of non-small cell lung cancer, following its initial approval for esophageal squamous cell carcinoma (ESCC). In the United States, Baizean® obtained its first indication approval for the second-line treatment of ESCC and is expected to be launched in the second half of 2024. The inclusion of Baizean® as a preferred treatment option in the National Comprehensive Cancer Network (NCCN) guidelines for ESCC further validates its high-quality research data and excellent efficacy.
With the remarkable success of these two core products, BeiGene is accelerating the development of its pipeline and has established a comprehensive, diverse, and rich portfolio of investigational drugs. In the field of solid tumors, BeiGene is actively advancing differentiated projects, with several new molecular entities entering the clinical stage in 2024. These include pan-KRAS inhibitors, MTA synergistic PRMT5 inhibitorsPRMT5 inhibitors, EGFR-CDAC, CEA-ADC, and FGFR2b-ADC, covering indications such as lung cancer, breast cancer, and gastrointestinal cancer. In the field of hematology, BeiGene is driving the research of BCL-2 inhibitorBCL-2 inhibitor sonrotoclax, with four registration clinical trials currently underway, including a global Phase 3 trial in combination with Baiyueze® for the first-line treatment of CLL. Furthermore, BTK CDAC has initiated two expansion cohort studies and is expected to commence a Phase 3 clinical trial for R/R CLL by the end of 2024.
BeiGene's outstanding performance in Q1 2024, with revenue exceeding 5.3 billion yuan, highlights the company's rapid expansion and increasing global presence. The impressive sales growth of core products, Baiyueze® and Baizean®, demonstrates the company's commitment to innovation and its ability to capture significant market share. With a robust pipeline of investigational drugs, BeiGene is poised to further enhance its operational efficiency and achieve more breakthroughs in the years to come.
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