HUTCHMED (China) Limited (“HUTCHMED”, the “Company” or “we”) (HKEX:13; Nasdaq/AIM:HCM) today reports its financial results for the year ended December 31, 2024 and provides updates on key clinical and commercial developments.
HUTCHMED to host results webcasts today at 8:00 a.m. EDT / 12:00 noon GMT / 8:00 p.m. HKT in English on Wednesday, March 19, 2025, and tomorrow at 8:30 a.m. HKT in Chinese (Putonghua) on Thursday, March 20, 2025. After registration, investors may access the live webcast via HUTCHMED’s website at www.hutch-med.com/event.
All amounts are expressed in US dollars unless otherwise stated.
Global commercial progress and delivery of sustainable growth
- FRUZAQLA® (fruquintinib) ex-China in-market sales1 of $290.6 million in 2024 by Takeda, sustaining momentum in its first full year driven by rapid US patient uptake, and EU and Japan launches, triggering a sales milestone from Takeda2. Total oncology products in-market sales up 134% to $501.0 million.
- Consolidated revenue from oncology products of $271.5 million, up 65%.
- Net income of $37.7 million was achieved in 2024, with a cash balance of $836.1 million as of December 31, 2024, achieving financial self-reliance ahead of schedule.
- Agreed partial disposal of equity in SHPL3 joint venture for $608 million.
Pipeline progress and new technology platform
- Primary endpoint met in SACHI China Phase III interim analysis for savolitinib for EGFRm4 NSCLC5 with MET amplification, followed by swift NDA6 filing, acceptance and priority review granted by the NMPA7.
- Positive SAVANNAH global pivotal Phase II results for savolitinib in combination with TAGRISSO® for EGFRm NSCLC patients that progressed on TAGRISSO® treatment with MET overexpression or amplification, achieving high, clinically meaningful and durable response rate and shared with global regulatory authorities by AstraZeneca8.
- Positive FRUSICA-2 China Phase III results for fruquintinib with sintilimab in 2L9 RCC10.
- Presented ESLIM-01 China Phase III data at ASH11 and EHA12, highlighting strong, sustained, and long-term durable response rates of sovleplenib for ITP13 patients, with the NDA under review by the NMPA. Additional data were requested by CDE14 and subsequently submitted by HUTCHMED. Review of the supplementary data is currently under review by CDE.
- FRUSICA-1 Phase II results presented at ASCO15, leading to NMPA approval of a second indication of ELUNATE® (fruquintinib) for EMC16 with pMMR17 status.
- First candidates from new ATTC18 platform, starting development of a new wave of drug candidates potentially more selective and tolerable than previous generations of antibody drug conjugates.
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