HUTCHMED to receive $20M milestone payment from Takeda for FRUZAQLA®

HUTCHMED (NASDAQ:HCM) today announced that it will receive a US$20 million milestone payment from its partner Takeda (NYSE:TAK), triggered by the achievement of over US$200 million in sales of FRUZAQLA® (fruquintinib) for metastatic colorectal cancer (“CRC”).

FRUZAQLA® has gained significant traction in the global market since its initial approval in the US in November 2023.

Takeda reported net sales of US$203 million for the drug in the nine months ended September 2024.

This milestone payment marks the first commercial milestone received by HUTCHMED.

“The achievement of $200 million in sales is a testament to Takeda’s commercial strength in launching global brands, the clinical benefit of fruquintinib, and the success of our partnership strategy for commercializing our medicines outside of China,” said Dr Weiguo Su, Chief Executive Officer and Chief Scientific Officer of HUTCHMED.

Takeda holds the exclusive worldwide license to develop, commercialize, and manufacture fruquintinib outside of mainland China, Hong Kong, and Macau.

The drug has received regulatory approval in several key markets, including the US, EU, Japan, and Canada, with additional approvals pending in various jurisdictions.