BeOne Medicines Ltd. raised its 2026 revenue forecast after third-quarter total global revenue increased 34% to $1.9 billion, while product sales gains lifted its operating-income outlook.
BeOne's Nov. 5 earnings release reported the quarterly results. It separately put product revenue growth at 33%. The company now expects full-year revenue of $6.9 billion to $7.0 billion, compared with its earlier range of $6.6 billion to $6.8 billion.
The revised forecast also calls for GAAP operating income of $1.2 billion to $1.3 billion, up from a previous $1 billion to $1.1 billion. BeOne raised its non-GAAP operating income range to $1.9 billion to $2 billion from $1.7 billion to $1.8 billion.
BRUKINSA (zanubrutinib) revenue rose 34% to $1.4 billion. TEVIMBRA (tislelizumab) revenue gained 28% to $243 million, while revenue from products licensed from Amgen increased 26% to $167 million.
GAAP net income reached $385 million, compared with $125 million in the year-earlier quarter. BeOne said stronger sales and the gains from operating leverage were the main contributors. Diluted earnings per American Depositary Share (ADS) were $3.28, up from $1.09.
The earnings release was included as Exhibit 99.1 in a Form 8-K filed Nov. 5. The Securities and Exchange Commission filing index lists the report under Item 2.02 and includes financial statements and exhibits under Item 9.01.
BeOne said earnings may provide enough evidence to reverse certain tax valuation allowances in 2026, and it expects the reversal in the fourth quarter. The reversal could result in a material tax benefit, but the company is still assessing its amount.
