BeiGene Q2 product revenue $553.7M (+82% YoY); BRUKINSA sales $308M; settles BMS arbitration

BeOne Medicines Ltd.

2023-Q2 EPS reported -$0.54 revenue$1,043,062,000

Settled BMS-Celgene dispute: BMS transfers 23.3M BeiGene shares to BeiGene, no cash payment; arbitration dismissed.
BRUKINSA global sales $308M (+139% YoY); U.S. sales $223.5M (+153% YoY); tislelizumab China sales $149.5M (+42.5% YoY).
Net loss improved to $381.1M from $565.7M YoY; operating leverage driven by 82% revenue growth vs 15% expense growth.
Regained full global rights to TIGIT inhibitor ociperlimab from Novartis; partnered with DualityBio for preclinical ADC.
Cash, equivalents and short-term investments $3.5B at June 30, down from $4.5B at year-end 2022.

item 1.01 item 1.02 item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BeOne Medicines Ltd. reported the three months ended June 30, 2023 results: revenue $553.7 million, net income $381.1 million, EPS $0.28 per share.

Period: the three months ended June 30, 2023
Revenue: $553.7 million
Net income: $381.1 million
EPS: $0.28 per share
Result: reported results

Exact text from the filing

Report on Form 8-K. --- EX-99.1 (EX-99.1) --- BeiGene Accelerates Global Momentum with Strong Second Quarter 2023 Financial Results • Recorded total product revenue of $554 million in the quarter, an increase of 82% from the prior-year period, driven by increased sales of BRUKINSA® worldwide • Global sales of BRUKINSA totaled $308 million in the quarter, a

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BeOne Medicines Ltd. entered into Settlement and Termination Agreement with Bristol-Myers Squibb Company, Celgene Corporation, Celgene Switzerland LLC, Celgene Kappa Holdings LLC, Celgene Holdings East Corporation, Celgene Logistics Sàrl (effective 2023-08-01).

Action: entry
Agreement: settlement
Counterparty: Bristol-Myers Squibb Company, Celgene Corporation, Celgene Switzerland LLC, Celgene Kappa Holdings LLC, Celgene Holdings East Corporation, Celgene Logistics Sàrl
Effective: 2023-08-01

Exact text from the filing

On August 1, 2023, BeiGene, Ltd. ( "BeiGene") and its wholly-owned indirect subsidiary, BeiGene Switzerland GmbH, signed a Settlement and Termination Agreement (the “Agreement”) with Bristol-Myers Squibb Company (“BMS”), Celgene Corporation, Celgene Switzerland LLC, Celgene Kappa Holdings LLC, Celgene Holdings East Corporation, and Celgene Logistics Sàrl (collectively with BMS, “BMS-Celgene”), relating to the termination of the parties’ ongoing contractual relationships

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Source: SEC EDGAR

accession 0001651308-23-000125

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