Company: HMDCF
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001410578-25-000377
Chunk: 679

Company: HUTCHMED (China) Ltd
Filing Date: 2025-03-19
Form: 20-F
Item: Item 16K
Chunk 679
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 it added distinct research and development services for the LCIs to the Lilly Agreement. The 2020 Amendment related to the promotion and marketing services is a separate contract as it added distinct services to the Lilly Agreement. Such promotion and marketing services are recognized over time based on amounts that can be invoiced to Lilly. The 2020 Amendment related to the additional development and regulatory approval milestone amounts is a modification as it only affected the transaction price of research and development services for a specific indication under the Lilly Agreement, and therefore, such additional milestone amounts will be included in the transaction price accounted under the Lilly Agreement once the specified milestones are achieved.

F-40

Table of Contents

Revenue recognized under the Lilly Agreement and subsequent amendments is as follows:
Year Ended December 31,
2024 2023 2022
──────────────────────────────────────────────────────────────────────────────────────────────────────────
(in US$ ’ 000)
Goods - Invoiced Marketed Products sales 15,826 16,966 14,407
Services - Commercialization of Marketed Products 52,485 48,608 41,275
 - Research and development 230 2,828 8,031
 - Allocated from upfront and milestone payments - 12 23
Royalties - Marketed Products 18,022 16,560 13,954
86,563 84,974 77,690
License and collaboration agreement with AstraZeneca
On December 21, 2011, the Group and AstraZeneca AB (publ) (“ AZ”) entered into a global licensing, co-development, and commercialization agreement for Orpathys (“ AZ Agreement”), also known as savolitinib, a novel targeted therapy and a highly selective inhibitor of the c-Met receptor tyrosine kinase for the treatment of cancer. Under the terms of the AZ Agreement, the Group is entitled to receive a series of payments up to US$140million, including upfront payments and development and first-sale milestones. Additionally, the AZ Agreement contains possible significant future commercial sale milestones. Development costs for Orpathys in China will be shared between the Group and AZ, with the Group continuing to lead the development in China. AZ will lead and pay for the development of Orpathys for the rest of the world. Orpathys was successfully commercialized in China in July 2021, and the Group receives fixed royalties of30% based on all sales in China. Should Orpathys be successfully commercialized outside China