BeiGene (06160)'s adjusted net profit for the first three quarters was approximately US$1,358 million, up 96% year on year, and the annual results guidance was raised by 96%

According to the Zhitong Finance App, BeiGene (06160) announced results for the third quarter of 2026, with total revenue of about US$1.89 billion, up 34% year on year; net product revenue was about US$1,855 million, up 33% year on year. Net profit was approximately US$385 million, up 208% year on year; adjusted net profit was approximately US$539 million, up 77% year on year. Free cash flow was $474 million, an increase of $119 million over the same period last year.

In the first three quarters of 2026, total revenue was approximately US$5.108 billion, up 33% year on year; net profit of US$849 million, up 285% year on year; adjusted net profit was approximately US$1,358 million, up 96% year on year.

GAAP gross profit margin (gross profit as a percentage of global product revenue) was 88% in the third quarter of 2026, compared to 86% in the same period last year. The year-on-year increase in gross margin was mainly due to the increase in the share of Baiyue Ze® global sales revenue in the company's product portfolio. At the same time, benefiting from increased production efficiency, the production costs of Baiyue Ze® and Baizean® decreased, but this positive impact was offset by the loss of $22 million in non-cash intangible asset impairment associated with the company's decision to stop promoting Prybeche®. After adjustments (excluding depreciation and amortization, and excluding impairment losses described above), gross margin on product sales increased to 90% from 86% in the same period last year.

Mr. Ou Leiqiang, co-founder, chairman and CEO of BeiGene, said, “The strong financial results in the third quarter and the revised full-year results guidance reflect the continued rapid growth of the company's global business and leadership position in the field of hematologic oncology. This is due to the cornerstone BTK inhibitor Baiyue Ze® bringing strong and long-lasting relief to patients and the expansion of the product line with the next-generation BCL2 inhibitor Baiyueda®. We have one of the deepest oncology R&D pipelines in the industry, covering hematologic tumors and solid tumors, and accelerate progress with our differentiated capabilities in R&D, production and commercialization. We look forward to welcoming many important catalysts in the coming months.”

BeiGene's total revenue guidance for the full year 2026 is between US$6.9 billion and US$7 billion. The guidance reflects the company's performance up to the third quarter and expectations for subsequent results during the year. The gross margin is expected to be high in the 80% range, including the impact of increased product portfolio and production efficiency. The company's guidance on GAAP operating expenses includes anticipated investments to support future growth.