Chinese Biotech BeiGene Stock Falls Despite Strong Brukinsa Sales And Earnings Beat
1. BeiGene reported adjusted earnings of $1.22, surpassing consensus estimates. 2. Revenue grew to $1.12 billion, driven by Brukinsa sales in the U.S. and Europe. 3. U.S. Brukinsa sales increased 60%, becoming a leader in new patient starts. 4. Gross margin improved to 85.1% due to higher Brukinsa sales mix. 5. Patent claims against Brukinsa were invalidated, a positive development for BeiGene.