(Yicai) May 8 -- Chinese biopharmaceutical giant BeiGene has reported its first-ever quarterly profit under US Generally Accepted Accounting Principles thanks to robust worldwide sales of its two core cancer drugs and tighter cost controls.

Beigene raked in GAAP net profit of USD1.27 million in the first quarter, according to the Beijing-based firm’s latest earnings report. The drugmaker kept its full-year revenue outlook for 2025 unchanged at between CNY35.2 billion (USD4.86 billion) and CNY38.1 billion (USD5.26 billion).

Beigene logged a 50.2 percent surge in revenue in the first three months from a year earlier to CNY8.05 billion (USD1.1 billion). Of this, revenue from product sales amounted to CNY7.98 billion, a jump of 49.9 percent from the year before.

Both the firm’s operating and total profits entered the black, with operating profit of CNY151 million (USD20.86 million) and a total profit of CNY150 million. However, despite posting a net profit, the company still logged a net loss attributable to shareholders of CNY94.5 million (USD13 million).

The improved performance was largely due to strong sales of its two core self-developed drugs, the BTK inhibitor Brukinsa (Zanubrutinib) and the PD-1 cancer therapy Tevimbra (Tislelizumab), as well as the sales growth of products licensed from Amgen, it said.

Global sales of Zanubrutinib soared 63.7 percent in the three months ended March 31 year on year to CNY5.6 billion (USD773.6 million). Of this, sales in the US surged 61.9 percent to CNY4 billion (USD552.6 million) where it claimed top spot among BTK inhibitors. Global sales of Tislelizumab jumped 19.3 percent to CNY1.2 billion (USD165.7 million).

Despite the encouraging news, BeiGene’s share price on the mainland [SHA: 688235] closed flat at CNY238.40 (USD33) today. In Hong Kong, its stock [HKG: 6160] closed down 0.2 percent at HKD140.70 (USD18.10). And its New York-traded shares [NASDAQ: ONC] finished the day down 3.93 percent at USD232.25 yesterday.

Editor: Kim Taylor