Hutchmed (HCM) announced that it will receive a $20M milestone payment from its partner Takeda (TAK), triggered by reaching over $200M in sales of Fruzaqla for metastatic colorectal cancer, or CRC. CRC is the second most common cause of cancer-related deaths in the U.S. There are approximately 840,000 new cases of CRC each year across the U.S,, Europe and Japan. Takeda delivered $203M in net sales of Fruzaqla in the nine months ended September. This $20M payment will be the first ever commercial milestone payment received by Hutchmed. Takeda has the exclusive worldwide license to further develop, commercialize, and manufacture fruquintinib outside of mainland China, Hong Kong and Macau, and markets under the Fruzaqla brand name. It received approval in the U.S. in November 2023, in the EU in June, in Switzerland in August, in Canada, Japan and the United Kingdom in September and in Argentina, Australia and Singapore in October. Regulatory applications are progressing in many other jurisdictions.
