Company: HMDCF
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001410578-25-000377
Chunk: 409

Company: HUTCHMED (China) Ltd
Filing Date: 2025-03-19
Form: 20-F
Item: Item 4
Chunk 409
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 Canada in September 2024 (with reimbursement), in United Kingdom in September 2024, in Australia and Singapore in October 2024, in Israel and the United Arab Emirates in December 2024, and in South Korea in March 2025.
In 2024, we generated $86.3 million in total revenue from Elunate, of which $18.0 million was royalty revenue, $15.8 million was manufacturing revenue from sales of goods primarily to Eli Lilly and $52.5 million was revenue from promotion and marketing services to Eli Lilly. We also generated $110.8 million in total revenue from Fruzaqla sales, of which $39.4 million was royalty revenue, $51.4 million was manufacturing revenue from sales of goods and $20.0 million from commercial sale milestone after Takeda delivered over US$200 million net sales of Fruzaqla in the year 2024.
Fruquintinib Partnership with Eli Lilly
In October 2013, we entered into a license and collaboration agreement with Eli Lilly in China. In December 2018, we amended our agreement, giving us, among other things, all planning, execution and decision making responsibilities for life cycle indication development of fruquintinib in China. Support from Eli Lilly helped us establish our own manufacturing facility in Suzhou, China. In July 2020, we reached an agreement with Eli Lilly to take over development and execution of all on-the-ground medical detailing, promotion and local and regional marketing activities for Elunate in China starting on October 1, 2020. Under the terms of the new agreement, we will share gross profits linked to sales target performance. Subject to meeting pre-agreed sales targets, Eli Lilly will pay us an estimated total of 70% to 80% of Elunate in-market sales in the form of royalties, manufacturing costs and service payments. For more information, see “—Overview of Our Collaborations—Eli Lilly.”
Fruquintinib Partnership with Takeda
In January 2023, we entered into an agreement with a subsidiary of Takeda whereby it received an exclusive worldwide license from us to develop, manufacture and commercialize fruquintinib in all indications and territories outside of China. We are entitled to receive a series of payments up to $1.13 billion, including upfront, regulatory, development and commercial sales milestone payments, plus royalties on net sales. Fruzaqla was successfully