HUTCHMED to Receive Milestone Payment from Takeda following First European Reimbursement for FRUZAQLA® (fruquintinib)

Core Insights - HUTCHMED will receive a US$10 million milestone payment from Takeda following the first national reimbursement recommendation for FRUZAQLA® (fruquintinib) in Europe for metastatic colorectal cancer [1][2] - FRUZAQLA® is the first novel oral targeted therapy approved in the EU for metastatic colorectal cancer in over a decade, with its European Commission approval granted in June 2024 [2][3] - The approval was based on the Phase III FRESCO-2 trial results, which demonstrated consistent benefits for patients treated with fruquintinib [3][6] Company Overview - HUTCHMED is an innovative biopharmaceutical company focused on the discovery, development, and commercialization of targeted therapies and immunotherapies for cancer and immunological diseases [7] - The company has approximately 5,000 personnel, with a significant focus on oncology and immunology [7] - HUTCHMED's fruquintinib has been co-marketed in mainland China, Hong Kong, and Macau with Eli Lilly under the brand name ELUNATE® [6] Industry Context - Colorectal cancer (CRC) is the third most prevalent cancer globally, with over 1.9 million new cases and 900,000 deaths reported in 2022 [4] - In Europe, CRC accounted for approximately 538,000 new cases and 248,000 deaths in 2022, highlighting the significant unmet medical need in this area [4] - The approval of FRUZAQLA® is expected to improve patient access to innovative treatments for metastatic CRC across Europe [3]