BeOne Medicines, a global drug company that originated as a research and development (R&D) firm in Beijing, promoted Wang Lai to the newly created role of co-president, marking a leadership expansion as the company advances its late-stage pipeline and globalisation efforts.
The 48-year-old has served as the company’s global head of R&D since April 2021. Effective January, Wang would take the helm of an expanded portfolio, retaining his R&D responsibilities while also overseeing business development and the management of business alliance relationships, according to a filing with the Hong Kong stock exchange on Friday.
The appointment was approved by the board of directors on December 17.
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Before becoming global R&D head in 2021, Wang held various research leadership positions in BeOne. Before that, he had helmed research operations as director at Joyant Pharmaceuticals, a Texas-based biotech company, from 2008 to 2011.
BeOne Medicines promoted Wang Lai to the newly created role of president. Photo: Handout alt=BeOne Medicines promoted Wang Lai to the newly created role of president. Photo: Handout>
Wang, who holds US citizenship, earned a bachelor of science degree from Fudan University in 1996 and a PhD from the University of Texas Health Science Centre, San Antonio, in 2001.
He will serve alongside Wu Xiaobin, 63, as co-president of the company. Wu, a German citizen, previously served as country manager of Pfizer China and regional president of Pfizer Essential Health for Greater China before joining BeOne.
Wu received total pre-tax compensation of about 13.09 million yuan (US$1.86 million) last year, while Wang took home 8.56 million yuan, according to the company’s annual report.
BeOne generated global revenue of about US$3.8 billion last year, up from US$1.4 billion in the previous year, driven by its flagship products Brukinsa and Tevimbra.
Brukinsa, a BTK inhibitor that sells across the US, Europe, China, the UK, Canada, Australia, Japan, Brazil and other markets, achieved global sales of 18.7 billion yuan in 2024, ranking second globally and first in China in its class. The drug helped propel the company to its first profitable half-year in early 2024.
Tevimbra, a PD-1 antibody treatment, has secured regulatory approvals across the EU’s 27 member states plus Iceland and Norway, as well as 16 other countries in North America, Europe and Asia-Pacific.
