BeOne Medicines reports strong H1 2025 revenue growth, first-time GAAP profitability

BeOne Medicines Ltd. reported a significant increase in total revenue, up 44.7% to $2,432.6m for the six months ended June 30, 2025, compared to $1,680.8m in the prior-year period. This growth was primarily fueled by strong sales of internally developed products like BRUKINSA® ($1,741.5m, up 54.7%) and TEVIMBRA® ($364.7m, up 20.1%), alongside contributions from in-licensed Amgen products, notably XGEVA®. The company achieved GAAP profitability for the first time in both the first and second quarters of 2025, with a net income of $95,590 for the six-month period, a substantial improvement from a net loss of $(371,555) in H1 2024.

Gross profit increased by 48.3% to $2,102,971, with the gross margin as a percentage of product sales rising to 86.3%. Operating expenses also saw an increase, with research and development at $1,006,783 (up 10.0%) and selling, general and administrative expenses at $997,201 (up 14.5%), reflecting continued investment in global commercial expansion and pipeline development. Adjusted earnings per share – basic stood at $0.28, a notable turnaround from a loss of $(0.09) in the comparable prior-year period.

The company's cash and cash equivalents, along with restricted cash, totaled $2,786,086 as of June 30, 2025. Total debt decreased by 6.2% to $954,485. BeOne Medicines expects to utilize remaining net proceeds from the STAR Offering gradually, with full utilization anticipated by 2026.