Summary by Futu AI
HUTCHMED announced that its partner, Takeda Pharmaceutical (TSE: 4502/NYSE: TAK), will make a $20 million commercial milestone payment based on sales of the metastatic colorectal cancer treatment drug FRUZAQLA® (fruquintinib) exceeding $200 million. This is the first commercial milestone payment received by HUTCHMED, marking its success in overseas commercialization strategy in China. FRUZAQLA® has been approved in countries and regions including the USA, EU, Switzerland, Canada, Japan, United Kingdom, Argentina, Australia, and Singapore, with regulatory applications in progress in many other countries and regions. Dr. Weiguo Su, CEO and Chief Scientific Officer of HUTCHMED, stated that this milestone payment will further strengthen the company's balance sheet and looks forward to expanding the indications of fruquintinib. Colorectal cancer is the third most common cancer globally, and HUTCHMED is dedicated to discovering, globally developing, and commercializing targeted drugs and immunotherapies for cancer and immune diseases.