BeOne Medicines (ONC) Morgan Stanley 22nd Annual Global Healthcare Conference summary

Business highlights and financial performance

• Achieved $929 million in quarterly revenue, with rapid growth led by Brukinsa and a broad portfolio.

• 52% of revenue is from the US, 9% from Europe, with plans to expand further in Europe and Asia.

• Opened a major $800 million biologics manufacturing center in New Jersey, enhancing global capabilities.

• Achieved positive adjusted operating income in Q2, with gross margins of 85%, among the industry's highest.

• Maintains a cost-efficient structure by running global clinical trials in-house and investing in manufacturing and research.

Geographic and organizational strategy

• Strategic focus on global operations, with significant presence in the US, China, and Europe.

• Re-domiciling to Switzerland to optimize tax structure and leverage European oncology talent.

• Maintains a highly distributed workforce, supporting global clinical and commercial activities.

• Built a leading oncology distribution network in China, generating over $1 billion in revenue.

• Plans to expand commercial and regulatory reach for key assets in new markets.

Pipeline and product development

• Brukinsa's uptake driven by strong head-to-head clinical data showing superiority in efficacy and safety.

• Tevimbra approved in multiple indications globally, with ongoing regulatory reviews for expanded use.

• BCL-2 inhibitor and BTK degrader prioritized for late-stage development, with promising clinical data.

• Over 10 new molecular entities expected to enter the clinic this year, reflecting a robust R&D pipeline.

• Active in developing bispecifics, trispecifics, ADCs, and degraders, leveraging in-house manufacturing and research scale.