BeiGene Q4 2020 Earnings Report
Key Takeaways
BeiGene reported a product revenue increase of 76% for the fourth quarter, reaching $100.10 million, driven by sales of tislelizumab and BRUKINSA. The company also highlighted its collaboration agreement with Novartis and positive Phase 3 trial results for tislelizumab.
Generated $100.10 million in product revenue for the fourth quarter of 2020, a 76% increase year-over-year.
Announced a collaboration agreement with Novartis to develop and commercialize tislelizumab in North America, Europe, and Japan.
Achieved positive Phase 3 readouts for tislelizumab demonstrating overall survival benefits.
Expanded commercial portfolio with the approval of tislelizumab in China for first-line squamous non-small cell lung cancer.
BeiGene
BeiGene
BeiGene Revenue by Segment
Forward Guidance
BeiGene anticipates several milestones, including closing the Novartis transaction, submitting BLAs and sBLAs, and receiving approvals for tislelizumab and pamiparib in China. They also expect to announce topline results from various Phase 3 trials.
Positive Outlook
- Close transaction with Novartis on the tislelizumab collaboration in the first quarter of 2021.
- Submit the first biologics license application (BLA) outside of China in 2021.
- Submit supplemental biologics license applications (sBLAs) in China for second/third-line NSCLC and MSI-H/dMMR solid tumors in the first half of 2021.
- Receive approvals in first-line non-squamous NSCLC and second/third-line hepatocellular carcinoma (HCC) in China in 2021.
- Announce topline result of the Phase 3 trial of tislelizumab combined with chemotherapy versus placebo combined with chemotherapy as first-line treatment in patients with nasopharyngeal cancer (NPC) in 2021.
Challenges Ahead
- The Company expects that the worldwide health crisis of COVID-19 will continue to have a negative impact on its operations, including commercial sales, regulatory interactions, inspections, filings, and clinical trial recruitment, participation, and data read outs.
- Amgen’s applications to the Human Genetic Resources Administration of China (HGRAC) to conduct clinical trials in mainland China continue to be delayed.
- BeiGene does not expect this to affect the conduct of the clinical trials in China for its drug candidates other than assets that are part of the Amgen-BeiGene collaboration.
- Assembly Biosciences announced that it will not move forward with planned Phase 3 registration studies of vebicorvir (VBR or ABI-H0731) as a chronic suppressive therapy (CST).
- There remains uncertainty regarding the future impact of the pandemic globally.