Huan Qiu Wang·2025-05-08 10:58Core Insights - BeiGene reported a revenue of 8.048 billion yuan for Q1 2025, marking a year-on-year increase of 50.2% [1] - The company's product revenue reached 7.985 billion yuan, up 49.9% year-on-year, leading to a significant reduction in losses to 0.095 billion yuan from 1.908 billion yuan in the same period last year [1] - The growth in product revenue was primarily driven by its core self-developed products, Brukinsa® (Zebutinib) and Tislelizumab, as well as sales growth from Amgen's licensed products [1] Revenue Breakdown - Brukinsa® achieved global sales of 5.692 billion yuan in Q1 2024, reflecting a 63.7% increase year-on-year [1] - In the U.S. market, Brukinsa® sales reached 4.041 billion yuan, up 61.9% year-on-year, while in China, sales were 0.590 billion yuan, a 43.1% increase [1] - Brukinsa® is now approved in 75 markets globally, with 11 markets adding or expanding reimbursement coverage in the quarter [1] PD-1 Product Performance - Tislelizumab generated sales of 1.245 billion yuan in Q1 2025, a year-on-year increase of 19.3%, attributed to new indications approved for reimbursement in China and increased hospital access [2] - Tislelizumab is approved for 14 indications in China, with 13 of those included in the national reimbursement list [2] - Despite the strong sales figure, the growth rate for Tislelizumab has slowed compared to the previous year's 32.8% [2] Global Market Expansion - The overseas market has become a significant driver of BeiGene's performance growth, with Tislelizumab recently approved in Japan and Indonesia [2] - Tislelizumab is now approved in 46 markets globally, with over 1.5 million patients treated [2] - In Q1 2025, Tislelizumab was added to the reimbursement list in 11 new markets, including the U.S., Europe, and China [2] Corporate Developments - BeiGene will adopt a new English name, BeOne Medicines Ltd., while retaining its Chinese name, and will relocate its registration to Switzerland, expected to be completed later this year [2]