(Yicai) Nov. 13 -- Chinese oncology firm BeiGene significantly boosted its revenue in the first three quarters of this year, surpassing its total revenue from last year, while also narrowing its losses, thanks to two successful cancer treatments targeting lung, liver cancer, and leukemia.

Revenue surged nearly 49 percent year-over-year to CNY19.1 billion (USD2.7 billion), according to the Beijing-based company’s interim earnings report released yesterday. Net loss was CNY3.7 billion (USD510 million), marking a 5 percent improvement from the previous year.

BeiGene attributed part of this gain to the resolution of a legal dispute with New Jersey-based Bristol-Myers Squibb last year, noting that, excluding this non-recurring item, net loss would have narrowed by CNY4.1 billion this year.

In the third quarter, BeiGene’s revenue reached USD1 billion for the first time in a single quarter, propelled by two key products. Sales of Tislelizumab, used to treat liver and lung cancer, rose nearly 12 percent to CNY1.2 billion over the period. Currently, Tislelizumab is approved in 42 countries and regions, with over 1.3 million patients treated worldwide.

Insurance coverage widened for Tislelizumab, BeiGene explained, adding that the medicine already has a leading market share in China. The injectable drug now has 14 approved indications in China, 11 of which are covered by public medical insurance.

The US Food and Drug Administration is reviewing applications for marketing authorization of Tislelizumab for two new indications, with a decision expected in December.

Another core product, Zanubrutinib, a blood cancer treatment, generated CNY4.9 billion in global sales in the third quarter, up 91 percent year-over-year. The US was the largest market, with regional sales reaching CNY3.6 billion, an 85 percent increase. Zanubrutinib is now approved in more than 70 markets worldwide.

Shares of BeiGene [SHA: 688235] fell 2.2 percent to CNY174.07 (USD24) as of 1.52 p.m.

Editor: Emmi Laine