**Interview with BeOne Medicines: Key Competitive Advantages and Rapid Growth**

**Michael Schmidt, Guggenheim Securities, LLC, Research Division:**
There are a lot of exciting things happening at BeOne Medicines. BeOne is, in my view, one of the fastest-growing large biotech companies. This is really the first year in its history that the company has reached profitability. At the same time, BeOne has developed one of the deepest product pipelines in the industry.

If we step back for a moment, Aaron, what do you see as the key competitive advantages of the BeOne platform?

**Aaron Rosenberg, Chief Financial Officer:**
Great, and thank you again for having us. There are so many differentiating features of BeOne Medicines that we could probably spend the entire time discussing them. For now, I’ll highlight just a few.

One of the aspects we often emphasize is our fully integrated, CRO-free clinical development organization. This allows us to maintain direct oversight and agility throughout the clinical development process.

Additionally, we have exceptional discovery capabilities. Our performance demonstrates this: in 2024 alone, we put 10 internally developed NMEs (New Molecular Entities) into the clinic, and, to date, that number has increased to 16. This is a testament to our strength in basic science and drug discovery.

From the beginning, we recognized the critical importance of clinical development in realizing the value of innovation. By integrating this expertise into our company, we ensure that we are able to rapidly and efficiently translate scientific breakthroughs into meaningful outcomes.

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*Stay tuned for more insights on BeOne Medicines’ strategy, growth, and innovation in the biotech industry.*
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