和黄医药(00013) - 2024 - 年度业绩

Financial Performance - Hutchmed reported a 65% increase in oncology product revenue, reaching $271.5 million, driven by the commercialization of FRUZAQLA®[6] - The total comprehensive revenue decreased to$630.2 million in 2024 from $838 million in 2023, reflecting a decline of 25$37.7 million, with a cash balance of $836.1 million as of December 31, 2024, achieving financial self-sufficiency[6] - Revenue for the year ended December 31, 2024, was$630.2 million, down from $838 million in 2023, reflecting a decrease of approximately 25$37.7 million, compared to $100.8 million in 2023, representing a decline of approximately 63$630.2 million, a decrease of approximately 25% from $838.0 million in 2023[48] - The company reported a significant decrease in net income attributable to shareholders from$100.8 million for the year ended December 31, 2023, to $37.7 million for the year ended December 31, 2024, a decline of$63.1 million[140] Oncology Product Sales - The total market sales for oncology products grew by 134% to $501 million, with FRUZAQLA® generating$290.6 million in sales outside of China[6] - The oncology product market sales increased by 134% to $501 million in 2024, compared to$213.6 million in 2023[11] - FRUZAQLA® achieved market sales of $290.6 million in 2024, a significant increase of 1,825$15.1 million in 2023[14] - The overall revenue for oncology products grew by 65% to $271.5 million in 2024, up from$164.2 million in 2023[14] - The sales of ELUNATE® (爱优特®) grew by 7% to $115 million in 2024, maintaining its leading market share in metastatic colorectal cancer[13] - The sales of SULANDA® (苏泰达®) increased by 12% to $49 million in 2024, driven by improved physician awareness and diagnosis of neuroendocrine tumors[13] - The sales of ORPATHYS® (沃瑞沙®) remained relatively stable at $45.5 million in 2024, a slight decrease of 2$46.1 million in 2023[14] Clinical Development and Drug Approvals - The company is focusing on the global clinical development of its new antibody-drug conjugate (ATTC) platform, which is expected to offer higher selectivity and tolerability compared to previous generations[8] - The SACHI Phase III study of savolitinib for treating MET-amplified EGFR-mutant non-small cell lung cancer achieved its primary endpoint and has submitted a new drug application[8] - The SAVANNAH global Phase II study of savolitinib in combination with TAGRISSO® showed high and durable clinical response rates, with data shared with global regulatory authorities[8] - The FRUSICA-2 Phase III study of fruquintinib and sintilimab for second-line renal cell carcinoma reported positive results[8] - The new drug application for Savolitinib was accepted by the National Medical Products Administration (NMPA) in December 2024, triggering a milestone payment from AstraZeneca[16] - In January 2025, the NMPA approved Savolitinib for first-line and second-line treatment of non-small cell lung cancer with MET exon 14 mutations[16] - The NMPA approved the new indication for Furmonertinib in December 2024 for second-line treatment of endometrial cancer with pMMR status[16] - The global pivotal Phase II trial for Savolitinib in combination with Osimertinib showed a high and clinically meaningful response rate in patients with EGFR mutations[18] Strategic Initiatives and Partnerships - Hutchmed agreed to sell 45% of its stake in Shanghai Hutchison Pharmaceuticals for $608 million, contingent on closing conditions[8] - The company plans to expand the clinical development of innovative drugs, including new indications for existing products[9] - The company is in close communication with the National Medical Products Administration to bring innovative drugs to patients in need[9] - The company is advancing its innovative drug development pipeline while maintaining a focus on shareholder value and patient welfare[8] - The company sold a 45$608 million in cash, expecting a pre-tax gain of about $477 million[30] Research and Development - Research and development expenses decreased by 30$212.1 million in 2024, down from $302.0 million in 2023[38] - The company has 13 oncology candidates in various clinical trial stages, with three drugs already approved in mainland China[57] - The company is advancing drug discovery and early development from its next-generation ATTC technology platform, with multiple molecules in preclinical stages[57] - The company supports approximately 100 clinical trials for savolitinib, exploring important medical questions in various solid tumors[96] Market and Regulatory Environment - The company emphasizes the importance of compliance systems to navigate a turbulent and competitive environment[58] - The average depreciation of the RMB against the USD was approximately 3$266.8 million, primarily due to a decline in sales related to COVID-19[31] Employee and Operational Metrics - The company employed approximately 1,810 full-time employees as of December 31, 2024, down from approximately 1,990 in 2023[167] - Employee expenses, including director remuneration, totaled USD 190.9 million for the year ending December 31, 2024, compared to USD 213.7 million in 2023[167] Future Outlook - The company provided a financial guidance for comprehensive revenue from the oncology/immunology business for 2025, estimating between $350 million and$450 million[41] - The company plans to complete the NMPA review for the new drug application based on the SACHI study by the end of 2025[18]