BeiGene Raises 2026 Revenue Guidance as Brukinsa Sales Momentum Continues, CEA ADC Data Slated for ESMO 2026
核心洞察
BeiGene (搜索) raised its full-year 2026 revenue guidance to RMB 44.9–46.2 billion, up from RMB 43.6–45.2 billion, driven by Brukinsa's U.S. market leadership and global expansion.
Brukinsa has not yet reached peak sales, with average duration of therapy at approximately 42 months and still maturing, supporting continued revenue growth.
The company plans to present early data from its CEA (搜索)-targeting antibody-drug conjugate in non-small cell lung cancer (搜索) at ESMO 2026 in October.
BeiGene (搜索), the innovative pharmaceutical company with a market capitalization exceeding RMB 100 billion, has significantly raised its full-year 2026 revenue guidance, now projecting revenue between RMB 44.9 billion and RMB 46.2 billion, up from its previous forecast of RMB 43.6 billion to RMB 45.2 billion. The revision, disclosed during a week in which the company hosted 207 institutional investors—the highest number among 57 A-share companies receiving visits—reflects the continued commercial strength of its core product, Brukinsa (zanubrutinib).
The company attributed the guidance increase primarily to Brukinsa's leading position in the U.S. market and its ongoing expansion in Europe and other key global markets.
Brukinsa: Three Growth Drivers Still in Play
BeiGene (搜索) emphasized that Brukinsa has not yet reached peak sales and expects continued revenue growth, underpinned by three key factors. First, the number of newly diagnosed patients initiating treatment in both the U.S. and globally has reached record highs. Second, the existing patient base continues to accumulate; the current average duration of therapy (DoT) is approximately 42 months, which the company described as "immature" and significantly shorter than the long-term treatment duration and survival benefits observed in the SEQUOIA study. Given that Brukinsa has only been on the market for four years, many patients are still extending their treatment duration, and DoT is expected to increase further over time.
Third, both clinical trials and real-world data from the U.S. continue to validate Brukinsa's advantages in efficacy, overall survival, and treatment persistence, further strengthening physician confidence in its use.
CEA ADC (搜索) Pipeline: ESMO 2026 Data Readout Planned
Beyond its commercial portfolio, BeiGene (搜索) disclosed plans to present early data from its CEA (搜索)-targeting antibody-drug conjugate (CEA ADC (搜索)) in non-small cell lung cancer (搜索) (NSCLC) at ESMO 2026, the European Society for Medical Oncology Congress scheduled for October 23. The presentation will cover both squamous and non-squamous subtypes.
CEA ADC (搜索) is BeiGene (搜索)'s novel targeted anticancer agent directed against carcinoembryonic antigen (CEA (搜索)), designed for the treatment of specific cancers. The company noted that specific CEA expression thresholds, PD-L1 stratification, and corresponding efficacy data have not yet been disclosed, but additional information will be provided as data mature.
BeiGene (搜索) emphasized that the product will not be limited to later-line settings and is actively advancing into earlier lines of therapy and combination regimens with PD-1 (搜索) inhibitors. Exploratory studies will also be conducted in specific subpopulations, such as those with co-mutations of CEA (搜索) and KRAS (搜索), based on expression overlap and early clinical signals.
Institutional Interest in the Broader CDMO and Innovative Drug Sector
The same week also saw significant institutional attention directed toward other innovative pharmaceutical companies. Zelgen Biopharma (搜索) received 97 institutional visitors, while Zhejiang Jiuzhou Pharmaceutical (搜索) hosted 77 institutions.
Zelgen Biopharma (搜索) updated investors on the progress of ZG005, which has initiated two Phase III clinical trials and demonstrates broad potential for combination with large-molecule targeted therapies beyond monotherapy. The company also highlighted ZG006, an injectable T-cell engager described as the world's first DLL3 (搜索)/DLL3/CD3 (搜索) trispecific TCE, which holds best-in-class potential. Completed clinical trials have shown ZG006 to exhibit remarkable efficacy and a favorable safety profile.
On the business development front, Zelgen confirmed a collaboration agreement with Merck & Co (搜索) reached in May 2026 to closely coordinate on clinical development of its trispecific antibody drug, as well as a commercialization partnership with AbbVie (搜索) for ZG006 signed in December 2025. Under the AbbVie agreement, Zelgen received an upfront payment of USD 100 million in January 2026, with potential milestone payments of up to USD 60 million.
Zhejiang Jiuzhou Pharmaceutical (搜索), a CDMO primarily engaged in pharmaceutical manufacturing with additional capabilities in specialty APIs and finished dosage forms, reported steady growth in new CDMO orders during the first half of 2026, predominantly driven by mid- to late-stage clinical projects, with overall pricing remaining stable. The small-molecule innovative drug segment added 66 early-stage clinical projects, five Phase III-to-pre-launch projects, and five commercial-stage projects during the reporting period. The company noted that nearly 80% of its revenue comes from overseas markets, with approximately 85% of CDMO revenue attributable to international clients.