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HUTCHMED Reports 2024 Full Year Results and Provides Business Updates
HCMHUTCHMED(HCM) Newsfilter·2025-03-19 11:00

Core Viewpoint - HUTCHMED reported strong financial results for 2024, achieving profitability and significant growth in oncology product sales, driven by the successful commercialization of FRUZAQLA® and other key products [5][6][8]. Group 1: Financial Performance - Total revenue for 2024 was 630.2million,adecreasefrom630.2 million, a decrease from 838.0 million in 2023 [32]. - Consolidated revenue from oncology products increased by 65% to 271.5million,drivenbystrongsalesofFRUZAQLA®andotheroncologyproducts[8][34].−NetincomeattributabletoHUTCHMEDwas271.5 million, driven by strong sales of FRUZAQLA® and other oncology products [8][34]. - Net income attributable to HUTCHMED was 37.7 million in 2024, down from 100.8millionin2023,withearningspershareat100.8 million in 2023, with earnings per share at 0.04 [36][44]. Group 2: Product Sales and Market Performance - FRUZAQLA® (fruquintinib) ex-China in-market sales reached 290.6millionin2024,asignificantincreasefrom290.6 million in 2024, a significant increase from 15.1 million in 2023, reflecting rapid uptake in the US and launches in multiple countries [6][8]. - Total oncology product in-market sales increased by 134% to 501.0millionin2024,comparedto501.0 million in 2024, compared to 213.6 million in 2023 [8][11]. - ELUNATE® (fruquintinib in China) sales increased by 7% to 115.0million,maintainingaleadingmarketshareinmetastaticcolorectalcancer[8][34].Group3:ClinicalDevelopmentandRegulatoryUpdates−PositiveresultswerereportedforsavolitinibintheSACHIPhaseIIIinterimanalysisforEGFRmNSCLCwithMETamplification,leadingtoaswiftNDAfilinginChina[6][15].−ThecompanypresentedstrongdataforsovleplenibintheESLIM−01PhaseIIItrial,showingadurableresponserateof51.4115.0 million, maintaining a leading market share in metastatic colorectal cancer [8][34]. Group 3: Clinical Development and Regulatory Updates - Positive results were reported for savolitinib in the SACHI Phase III interim analysis for EGFRm NSCLC with MET amplification, leading to a swift NDA filing in China [6][15]. - The company presented strong data for sovleplenib in the ESLIM-01 Phase III trial, showing a durable response rate of 51.4% for ITP patients [6][22]. - HUTCHMED's new ATTC platform is expected to enhance drug development, targeting a wide range of oncology indications [7][24]. Group 4: Strategic Developments - The company agreed to dispose of its 45% equity interest in SHPL for approximately 608 million, which is expected to support its innovative drug R&D [5][27]. - HUTCHMED aims to continue its global growth strategy, focusing on expanding its pipeline and commercializing its innovative medicines [5][7]. - The company is committed to sustainability and has made progress in integrating sustainability into its operations, receiving improved ESG ratings [28][30].