Core Insights - The company reported a consolidated profit of $457 million in 2025, primarily due to a $416 million gain from divesting part of its SPL equity interest, indicating strong financial performance despite challenges in the market [2][7] - R&D spending decreased to $148 million in 2025, attributed to high-cost clinical trials moving to later stages and a strategic shift towards the ATTC platform, with potential future increases in R&D spending as new programs progress [1][6][10] - The oncology business generated $286 million in revenue, with a notable second-half rebound in domestic sales and continued international expansion for its product FRUZAQLA, which saw a 26% year-over-year growth [3][4][5][8] Financial Performance - The company achieved a consolidated profit of $457 million, largely driven by a significant gain from equity divestment, while core business operations remained profitable without this transaction [2][7] - Oncology revenue for 2025 was reported at $286 million, including $71 million from R&D-related payments, with guidance for 2026 set between $330 million and $450 million, reflecting steady growth expectations [3][9][7] R&D and Pipeline Developments - R&D strategy is shifting towards the ATTC platform, with current spending at $148 million but expected to rise to between $200 million and $300 million as new products enter clinical development [1][6][10] - Key milestones in the pipeline include the approval of savolitinib for second-line EGFR-mutant MET-amplified NSCLC and ongoing clinical trials for multiple ATTC products, indicating a robust development pipeline [17][21][23] Market Performance - FRUZAQLA's international sales reached $366 million, with a 26% increase year-over-year, and the product has been launched in over 38 countries, showcasing strong global market performance [4][8][12] - In China, the oncology business rebounded in the second half of 2025, with a 21% increase in market sales compared to the first half, driven by reimbursement expansions for endometrial cancer [3][13][14] Strategic Focus - The company is prioritizing cash deployment towards accelerating global ATTC R&D and exploring in-licensing and M&A opportunities, with approximately $1.4 billion in cash reserves to support these initiatives [8][25] - Management is also preparing for commercialization in China, aiming to establish a specialized hematology sales team and target key hospitals for its hematology products [24]

Global Commercial Portfolio Next-generation Innovative Platform March 2026 HKEX:13 | Nasdaq/AIM:HCM 1 Safe Harbor Statement & Disclaimer The performance and results of operations of the HUTCHMED Group contained within this presentation are historical in nature, and past performance is no guarantee of future results. The performance and results of operations of the Group contained within this presentation are historical in nature, and past performance is no guarantee of future results of the Group. This pres ...

Financial Performance - HUTCHMED reported a net income of $456.9 million for the year ended December 31, 2025, a significant increase from $37.7 million in 2024, primarily driven by profitable core operations and a $415.8 million gain from divestment [6][39]. - Total revenue for 2025 was $548.5 million, down from $630.2 million in 2024, reflecting a 13% decrease [34]. - The company maintained a strong cash position with $1.4 billion in cash and cash equivalents at year-end, compared to $836.1 million in 2024 [39]. Sales Growth - Total in-market sales, including key products like FRUZAQLA, ELUNATE, SULANDA, and ORPATHYS, reached $524.7 million in 2025, representing a 5% growth despite challenges in the first half of the year [10][11]. - FRUZAQLA's sales increased by 26% to $366.2 million, driven by successful launches and reimbursement coverage across 38 countries [12][36]. - ELUNATE's sales in China were $100.1 million, showing a strong recovery with a 33% increase in the second half of 2025 compared to the first half [6][13]. Clinical Development - The Antibody-Targeted Therapy Conjugate (ATTC) platform is advancing into clinical trials, with the first candidate HMPL-A251 initiated in December 2025 and additional candidates expected to enter trials in 2026 [4][25]. - Positive results from late-stage clinical trials, including the FRUSICA-2 Phase III trial, demonstrated significant improvements in progression-free survival (mPFS) for patients treated with ELUNATE in combination with sintilimab [19][23]. - The company is pursuing partnerships with multinational pharmaceutical companies to enhance the development and commercialization of its ATTC candidates [8][9]. Regulatory Updates - Savolitinib received multiple approvals, including a temporary authorization in Switzerland and priority review acceptance by the NMPA for various indications [17][22]. - The company has ongoing regulatory submissions for several products, including sovleplenib and fanregratinib, which are currently under review [9][22]. Strategic Initiatives - HUTCHMED is repositioning its commercial team to enhance sales growth in China, with a focus on top-tier hospitals and high-potential provinces [9][37]. - The company is committed to increasing R&D investment to expedite the development of its innovative drug candidates, particularly within the ATTC platform [9][39]. - Sustainability initiatives are being prioritized, with a report set to be published in April 2026, highlighting achievements across various goals [31][33].

Financial Performance & Divestment - HUTCHMED reported profits of $455 million in H1 2025, driven by a $477.5 million gain from the partial divestment of SHPL[15] - The company divested a 45% equity interest in SHPL, retaining 5%, resulting in gross proceeds of $609 million[13] - HUTCHMED's cash, cash equivalents, and short-term investments totaled $1,364.5 million as of June 30, 2025[12] - Oncology revenue was $143.5 million in H1 2025, a decrease from $168.7 million in H1 2024[15] - The company revised its 2025 Oncology Revenue Guidance to $270 million - $350 million, down from the previous guidance of $350 million - $450 million[20] Commercial Product Performance - FRUZAQLA® in-market sales grew by 25% to $162.8 million in H1 2025[10, 22] - ELUNATE® in-market sales decreased by 29% to $43.0 million in H1 2025[22] - ORPATHYS® in-market sales decreased by 41% to $15.2 million in H1 2025[22] - SULANDA® in-market sales decreased by 50% to $12.7 million in H1 2025[22] Pipeline & Development - The company is developing an Antibody-Targeted Therapy Conjugate (ATTC) platform with multiple drug candidates, with the first candidate US + China clinical trial initiation expected in H2 2025[10] - Savolitinib received China NMPA approval in June 2025 for 2L NSCLC MET amplification[10, 36, 46]

Safe harbor statement & disclaimer R&D UPDATES October 31, 2025 HKEX: 13, Nasdaq / AIM:HCM The performance and results of operations of the HUTCHMED Group contained within this presentation are historical in nature, and past performance is no guarantee of future results. The performance and results of operations of the Group contained within this presentation are historical in nature, and past performance is no guarantee of future results of the Group. This presentation contains forward-looking statements w ...