BeiGene is building a fourth facility in China with a budget of $74 million for the land and construction.
According to its first-quarter earnings in an SEC filing on Wednesday, BeiGene acquired a patch of land in Shanghai in March. The company is allocating $45 million to continue building an unfinished facility onsite, and the remaining $29 million will go toward land use rights. The company will also build a new research and development center there.
When asked about what the manufacturing facility will be used for and timings on the build, a spokesperson told Endpoints News it cannot share more information beyond the filing.
BeiGene already has three live facilities in China: A biologics site in Guangzhou and two small molecule manufacturing facilities in Beijing and Suzhou.
BeiGene is also building its first US-based biologics facility in Hopewell, NJ. The company has spent $652 million so far on that build, according to the SEC filing. BeiGene had previously said it had an $800 million budget, and it anticipates the site to open in July this year.
In March, BeiGene said it was looking outside of China for a second source of active pharmaceutical ingredients (API) for its lead drug Brukinsa. BeiGene’s only current source of API for the cancer drug is WuXi STA, a subsidiary of WuXi AppTec, which was named in the Biosecure Act as a “company of concern.”
Brukinsa generated $351 million in revenue for BeiGene in the first three months of 2024, up 66% compared to the $211 million it garnered in the same period in 2023. Overall, BeiGene made $752 million in Q1, up 68% from $448 million last year.