HIGHBuilt-in & outside partyProduct / Revenue mix
BRUKINSA
“10-K Item 1: 'total global revenue of approximately $5.3 billion ... BRUKINSA generated $3.9 billion in sales in 2025'”
ONC · Concentration risk · 10-K extracted
BeOne Medicines (ONC) concentration risks
Updated
The most significant concentration BeOne Medicines discloses is BRUKINSA, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: BeOne Medicines’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH1
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inGeographic
China
“10-K Item 1A: 'which could have a material adverse effect on our business, financial condition and results of operations in China'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile combines a dominant product-level exposure with a moderate geographic one. On the product side, BRUKINSA generated $3.9 billion in sales in 2025 against total global revenue of approximately $5.3 billion, making it the overwhelmingly predominant revenue driver. This is a high-share, mixed-character concentration: structural in the sense that the company's pipeline strategy has been deliberately built around this asset, but also carrying dependency risk given that a patent challenge, a safety signal, or a competitive entrant gaining share in the BTK inhibitor category could move reported results significantly. The degree of reliance on a single commercial product means that BRUKINSA's commercial trajectory is effectively the company's revenue trajectory at this stage. Layered on the product concentration is a moderate geographic exposure to China, where a material adverse outcome — whether regulatory, geopolitical, or competitive — could affect financial condition and results of operations, per the filing's own framing. China represents a meaningful secondary market for oncology products in the region, and any policy or market-access disruption there would compound the single-product risk. Together, the profile presents a concentrated but coherent picture: strong execution on BRUKINSA globally is the central variable, with China market conditions as a secondary risk amplifier. Monitoring for competitive inroads, regulatory developments, and China market dynamics is the appropriate investor focus.
For the engine’s reasoning on ONC’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Biotechnology
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ACAD | ACADIA Pharmaceuticals Inc. | 2 | 0 | 0 | 2 |
| ACLX | Arcellx, Inc. | 1 | 1 | 0 | 2 |
| ONC● | BeOne Medicines Ltd. | 1 | 1 | 0 | 2 |
| AGIO | Agios Pharmaceuticals, Inc. | 1 | 0 | 0 | 1 |
| ALMS | Alumis Inc. | 1 | 0 | 0 | 1 |
| ADMA | ADMA Biologics Inc | 0 | 1 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.