Company: HMDCF
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001410578-25-000377
Chunk: 558

Company: HUTCHMED (China) Ltd
Filing Date: 2025-03-19
Form: 20-F
Item: Item 5
Chunk 558
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 provided for at the relevant rates on the estimated assessable profits less estimated available tax losses, if any, of these entities as applicable.
Period-to-Period Comparison of Results of Operations
Year Ended December 31, 2024 Compared to Year Ended December 31, 2023
Revenue
Our revenue was $630.2 million for the year ended December 31, 2024, with the largest component being Oncology/Immunology revenue of $363.4 million, which includes Takeda collaboration revenue of $67.0 million (including $48.1 million upfront & regulatory milestones). This compares to $838.0 million for the year ended December 31, 2023, with the largest component being Oncology/Immunology revenue of $528.6 million, which includes Takeda collaboration revenue of $345.9 million (including $312.0 million upfront & regulatory milestones).
Revenue from oncology products within Oncology/Immunology increased by 65.4% to $271.5 million for the year ended December 31, 2024 compared to $164.2 million for the year ended December 31, 2023, primarily due to:

●   An increase in sales of Fruzaqla to $110.8 million for the year ended December 31, 2024 (of which $39.4 million was royalty revenue attributable from in-market sales of $290.6 million, $51.4 million was invoiced sales of goods to Takeda and $20.0 million was a commercial milestone) from $7.2 million for the year ended December 31, 2023 (of which $2.1 million was royalty revenue attributable from in-market sales of $15.1 million, $5.1 million was invoiced sales of goods to Takeda);
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●   An increase in sales of Elunate (primarily to Eli Lilly) to $86.3 million for the year ended December 31, 2024 (of which $52.5 million was promotion and marketing services, $15.8 million was sales of goods, $18.0 million was royalty revenue attributable from in-market sales of $115.0 million) from $83.2 million for the year ended December 31, 2023 (of which $48.6 million was promotion and marketing services, $18.0 million was sales of goods and $16.6 million