| Revenue |
14. Revenue The following table presents revenue disaggregated by contract type: | | | | | | | | | | | Six Months Ended June 30, 2026 | | | | Oncology/Immunology | | Other Ventures | | Total | | | | | (in US$’000) | Invoiced Goods — Marketed Products | | 56,545 | | — | | 56,545 | — Distribution | | — | | 115,966 | | 115,966 | Services — Commercialization of Marketed Products | | 29,323 | | — | | 29,323 | License & Collaborations | — Services | | 7,871 | | — | | 7,871 | | — Royalties | | 35,566 | | — | | 35,566 | | — Licensing | | 16,321 | | — | | 16,321 | | — Manufacturing supply | | 16,695 | | — | | 16,695 | | | 162,321 | | 115,966 | | 278,287 | | | | | | | | Third parties | | 162,321 | | 115,168 | | 277,489 | Related parties (Note 17(i)) | | — | | 798 | | 798 | | | | 162,321 | | 115,966 | | 278,287 |
| | | | | | | | | | | Six Months Ended June 30, 2025 | | | | Oncology/Immunology | | Other Ventures | | Total | | | | | (in US$’000) | Invoiced Goods — Marketed Products | | 47,744 | | — | | 47,744 | — Distribution | | — | | 134,230 | | 134,230 | Services — Commercialization of Marketed Products | | 19,985 | | — | | 19,985 | License & Collaborations | — Services | | 14,201 | | — | | 14,201 | | — Royalties | | 31,310 | | — | | 31,310 | | — Licensing | | 12,090 | | — | | 12,090 | | — Manufacturing supply | | 18,117 | | — | | 18,117 | | | 143,447 | | 134,230 | | 277,677 | | | | | | | | Third parties | | 143,447 | | 133,503 | | 276,950 | Related parties (Note 17(i)) | | — | | 727 | | 727 | | | | 143,447 | | 134,230 | | 277,677 |
The following table presents liability balances from contracts with customers: | | | | | | | June 30, | | December 31, | | | 2026 | | 2025 | | | | (in US$’000) | Deferred revenue | | | | | Current — Oncology/Immunology segment (note (a)) | | 16,994 | | 31,362 | Current — Other Ventures segment (note (b)) | | 58 | | 53 | | | 17,052 | | 31,415 | Non-current — Oncology/Immunology segment (note (a)) | | 10,578 | | 20,132 | Total deferred revenue (note (c) and (d)) | | 27,630 | | 51,547 |
Notes: (a) | Oncology/ Immunology segment deferred revenue relates to unamortized upfront payments, invoiced amounts for royalties where the customer has not yet completed the in-market sale and advance consideration received for cost reimbursements which are attributed to research and development services that have not yet been rendered as at the reporting date. |
(b) | Other Ventures segment deferred revenue relates to payments in advance from customers for goods that have not been transferred and services that have not been rendered to the customer as at the reporting date. |
(c) | Estimated deferred revenue to be recognized over time as from the date indicated is as follows: |
| | | | | | | June 30, | | December 31, | | | 2026 | | 2025 | | | | (in US$’000) | Not later than 1 year | | 17,052 | | 31,415 | Between 1 to 2 years | | 5,661 | | 11,314 | Between 2 to 3 years | | 1,027 | | 4,666 | Between 3 to 4 years | | 898 | | 859 | Later than 4 years | | 2,992 | | 3,293 | | | 27,630 | | 51,547 |
(d) | As at January 1, 2026, deferred revenue was US$51.5 million, of which US$31.6 million was recognized during the six months ended June 30, 2026. |
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