Company: HMDCF
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001410578-25-000377
Chunk: 315

Company: HUTCHMED (China) Ltd
Filing Date: 2025-03-19
Form: 20-F
Item: Item 1
Chunk 315
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 in the HMPL-506 Phase I trial; completed enrollment in the registration trials of fanregratinib for intrahepatic cholangiocarcinoma, savolitinib combined with Tagrisso for lung cancer in the U. S., as well as the surufatinib Phase II trial for pancreatic cancer.

Discovery Research goals. Significant progress in developing the innovative ATTC platform, including several candidates nominated and in pre-clinical development and more to be nominated in the near-term.

Manufacturing goals. Streamlined operations across drug substance, drug product and manufacturing and supply chain; developed new Shanghai factory including passing the regulatory certification, obtaining the manufacturing license and delivering the first commercial batch of a key product ahead of schedule, and installing additional workshops for drug product supply, with technology transfers completed for all clinical supplies; manufacturing and delivering substantial numbers of batches of Fruzaqla to Takeda; establishing additional infrastructure to control cost, quality and scheduling of drug substance supplies.

Commercial and financial goals. Reported total oncology product revenue of $272 million, including revenue from Elunate, Sulanda and Tazverik - the three medicines marketed by the HUTCHMED commercial team - of $136 million, and triggered regulatory and sales milestone payments from Takeda of $35 million; and in particular, reported net income of $38 million given that the 2023 net income of $101 million included the recognition of $280 million from the upfront payment from the license agreement with Takeda.

Business development and alliance management goals. Signed agreements to substantially divest interest in the Shanghai Hutchison Pharmaceuticals joint venture for approximately $608 million; managed new alliance with Takeda to launch Fruzaqla, and continued to manage alliance with AstraZeneca on Orpathys.

Organization. Reorganized group following ex-China partnership with Takeda, including right-sizing ex-China resources and further steps to focus on optimizing efficiency, controlling cost and risk management. Also certified as a Top Employer in 2024, which is based on a comprehensive analysis of the Company’ s Human Resources environment, in alignment with the Company’ s goals in creating a great place to work.

Sustainability. progress made in the 11 short- to long-term goals and targets; enhanced climate actions, including an assessment on the potential financial impacts of climate risks and opportunities for HUTCHMED, in-line with new disclosure requirements; conducted a biodiversity assessment and added a Biodiversity Policy; conduced a supplier ESG assessment; improved