In the first quarter, BeiGene reduced losses and accelerated the commercialization of innovative drugs

May 19, 2025  Source: drugdu 75

BeiGene Limited (referred to as "BeiGene", 688235. SH) recently released its Q1 2025 financial report, which showed that the company's operating revenue reached 8.048 billion yuan, an increase of 50.2% compared to the same period last year's 5.359 billion yuan. In terms of net profit, the company still faces certain pressure to incur losses, but the losses have significantly narrowed. The net profit attributable to the parent company was a loss of 94.503 million yuan, a significant reduction from the loss of 1.908 billion yuan in the same period last year.

From the perspective of cost structure, BeiGene continues to increase its research and development investment. Data shows that BeiGene's research and development expenses in 2024 amounted to 14.14 billion yuan, an increase of 10.35% compared to the same period last year. Research and development investment is used for preclinical studies, clinical trials, collaborative research and development of the company's product pipeline. In the first quarter of 2025, the company's research and development expenses reached 3.47 billion yuan, accounting for 43.16% of the total operating costs, an increase of 4.4% compared to 3.328 billion yuan in the same period last year. As of the end of 2024, the company and its holding subsidiaries hold 62 invention patents in the United States, 63 in China, 26 in Japan, 14 in Europe, and 129 in other countries and regions.

In terms of cash flow, BeiGene's net cash flow from operating activities in the first quarter was -193 million yuan, but there was a significant improvement compared to the same period last year of -2.395 billion yuan. The 2024 financial report of the company shows that due to the growth of product sales revenue exceeding the overall expense growth, it is expected that the annual operating revenue in 2025 will be greater than the sum of operating costs, sales expenses, management expenses, and research and development expenses. The net cash flow generated from operating activities in 2025 is expected to be positive.

From the perspective of industry trends, the global market size of anti-tumor drugs is expected to continue to grow, especially in emerging markets. As an important means of cancer treatment, tumor immunotherapy is expected to rapidly expand its market size. It is expected that the global anti-tumor drug market will reach 328.6 billion US dollars by 2026 and further grow to 490.8 billion US dollars by 2031; The global tumor immunotherapy market is expected to reach $90 billion by 2026 and further grow to $214.9 billion by 2031.

The reporter noticed that in recent years, the national policy has encouraged pharmaceutical innovation, injecting strong impetus into its development. The National Medical Products Administration has shortened the average review cycle for new anti-tumor drugs; The medical insurance catalog is dynamically adjusted to cover new drugs, the payment system is multi-layered, and commercial insurance and urban universal insurance cover high priced therapies to alleviate patients' economic burden and supplement payment gaps.

Public information shows that BeiGene is a global innovative cancer treatment company that develops innovative anti-tumor drugs for cancer patients worldwide, improving drug accessibility and affordability. BeiGene focuses on the research and development, production, and commercialization of innovative drugs, promoting clinical trials and commercialization of drugs under development, and establishing a certain competitive advantage.

Meanwhile, BeiGene is also facing challenges such as intensified market competition and changes in regulatory policies. According to BeiGene's 2024 annual report, the company has not yet made a profit and has accumulated unrealized losses. As of December 31, 2024, the accumulated unrealized losses amounted to 62.667 billion yuan. BeiGene stated that this is mainly due to the fact that the research and development, production, and commercialization of new drugs are a process with large investment, long cycles, and high risks. The future net profit scale of the company will depend in part on the number and scope of drug development projects, as well as various costs and expenses related to the projects, the level of revenue generated, and the time and amount of cooperation with third parties to collect relevant payments.

It is reported that in 2025, BeiGene's annual total revenue guidance is between 4.9 billion and 5.3 billion US dollars. Due to the improvement of product portfolio and production efficiency, the company's gross profit margin is expected to be in the median range of 80% to 90% compared to 2024.

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