BeiGene (688235.SH): RoyaltyPharma agrees to pay $885 million in royalties for the purchase of the monoclonal antibody ImdellTra outside of China at the time of delivery

According to the Zhitong Finance App, BeiGene (688235.SH) announced that on August 25, 2025, the company and its wholly-owned subsidiary BeiGene Switzerland signed a “royalty purchase agreement” with RoyaltyPharma. Under the agreement, RoyaltyPharma agreed to pay $885 million to BeiGene Switzerland at the time of delivery to purchase the majority of its rights to collect a tiered mid-single-digit percentage of the net revenue from the annual sales of any product containing the monoclonal antibody Imdelltra (Tarlatamab) (including any dosage, form (including polyethylene glycolated versions), method of administration or route of administration) outside of China. The aforementioned royalties are fees paid by Amgen to BeiGene Switzerland in accordance with the Amgen Cooperation Agreement.

Furthermore, from the date of delivery to August 25, 2026, BeiGene Switzerland has the right to sell additional royalties to Royalty Pharma at its sole discretion, and exercising such selling options may enable BeiGene Switzerland to receive additional payments of up to $65 million. For the portion of Imdelltra's annual net revenue outside China of more than $1.5 billion, the seller will share a portion of the royalties. In addition to retaining the right to collect royalties as described above, BeiGene Switzerland also reserves other financial benefits under the Amgen Cooperation Agreement.