BeiGene, a global oncology company, and NewBridge Pharmaceuticals have jointly decided to conclude their partnership for the sales, distribution, and commercialization of BRUKINSA®, Zanubrutinib, in the Middle East and Africa region. The strategic decision aligns with BeiGene's goals to expand its presence and directly manage operations in the region.
The collaboration between BeiGene and NewBridge Pharmaceuticals began in 2020, focusing on the commercialization of BRUKINSA in the MENA region. As a result of the partnership, BRUKINSA has been approved by health authorities in multiple territories and is currently marketed in several regions, with additional approvals expected in the future.
The separation process is well-planned, with timelines determined on a country-by-country basis, starting in June 2024 and completing by March 31, 2025. Although the distribution agreement is set to terminate on March 31, 2025, BeiGene will take over all customer-facing activities from June 11, 2024, including Medical Affairs, Commercial Operations, and Market Access. BeiGene will utilize its expanded team in the region to ensure a smooth transition.
Mohammed Al-Kapany, General Manager of the MENA region at BeiGene, expressed gratitude for NewBridge Pharmaceuticals' collaboration over the past five years. He emphasized BeiGene's commitment to seamlessly transitioning to a direct operating model across the region, reinforcing their dedication to advancing cancer care and making innovative treatments more accessible to patients. Al-Kapany also highlighted BeiGene's plans to build on the foundation laid during the partnership and advance their global growth objectives.
Hisham El Sayed, Executive VP & Regional Head of Commercial, Middle East & Africa for NewBridge Pharmaceuticals, reflected on the rewarding journey of working with BeiGene and the accomplishments achieved together. He expressed support for BeiGene's strategic decision and pledged to ensure a seamless transition for healthcare providers and patients served by the partnership.
This strategic shift represents a significant milestone for BeiGene as it expands its global presence. By 2025, the company aims to achieve groundbreaking advancements in the treatment of solid tumors and hematological cancers, reinforcing its dedication to providing cutting-edge cancer therapies worldwide. The move underscores BeiGene's commitment to delivering innovative and transformative treatments to cancer patients globally.
BeiGene's decision to directly manage operations in the MENA region demonstrates its confidence in the market's potential and its ability to navigate the challenges and opportunities presented by the region's healthcare landscape. The company's focus on expanding its presence and advancing cancer care in the MENA region is expected to have a positive impact on patients' lives and contribute to the overall improvement of cancer treatment in the area.
NASDAQ: BGNE
Price: $215.42
Change: + 1.5%
Based on the technical analysis model, BeiGene's stock is currently in an uptrend. The stock has been consistently trading above its 50-day and 200-day moving averages, indicating a strong bullish sentiment. The moving average convergence divergence (MACD) indicator also suggests a positive momentum, with the MACD line crossing above the signal line. The stock has recently broken through a key resistance level at $210, which now acts as a strong support level. The next resistance level is identified at $225, based on the Fibonacci retracement levels. The Bollinger Bands indicate that the stock is trading near the upper band, suggesting a potential continuation of the uptrend. Overall, the technical analysis suggests a positive outlook for BeiGene's stock, with the uptrend expected to continue in the near term. However, investors should monitor the stock's performance closely and be aware of any potential market volatility that may impact the stock's trajectory.
