Hutchmed (China) Ltd on Friday said it will receive a milestone payment from Takeda Pharmaceutical Co Ltd after Takeda launched Hutchmed’s Fruzaqla in Japan.
Hutchmed is a Hong Kong-based biopharmaceutical maker focused on the treatment of cancer and immunological disease, and develops and markets Fruzaqla, whose generic name is fruquintinib, in China.
Takeda is a Tokyo-based pharmaceutical company with the exclusive worldwide licence to develop, commercialise and manufacture fruquintinib outside of mainland China.
The launch of Fruzaqla is for patients with previously treated metastatic colorectal cancer, following approval by the Japanese Ministry of Health, Labour & Welfare.
Hutchmed did not on Friday provide the amount of the milestone payment that it will receive. In October, it had said it received a $20 million payment as Takeda had delivered $203 million in net sales of Fruzaqla in first nine months of 2024.
Hutchmed shares were flat at 281.00 pence each on Friday morning in London, while Takeda shares closed 0.2% lower at JP¥4,113.00 each in Tokyo.
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