China-based HutchMed (China) Ltd (HKG: 0013, NASDAQ: HCM) is poised to receive another milestone payment from its partner Takeda (TYO: 4502, NYSE:TAK), following the Japanese firm’s achievement of a national reimbursement recommendation for Fruzaqla (fruquintinib) for patients with previously treated metastatic colorectal cancer (CRC) in Spain. This event marks the first national reimbursement recommendation for Fruzaqla in Europe and will result in a USD 10 million payment from Takeda to HutchMed.
Fruquintinib’s Market Expansion and Reimbursement Progress
Fruquintinib, a selective oral inhibitor of all three VEGF receptors (VEGFR-1, -2, and -3), is a key drug in the oncology portfolio of Takeda, which holds the rights to market the drug outside of China under the trade name Fruzqala. In China, Eli Lilly co-markets the drug with HutchMed under the brand name Elunate. The drug’s approval to treat previously treated mCRC in the US in November 2023 was a significant milestone, and its registration in various countries including the European Union (EU), Switzerland, Canada, Japan, the UK, Argentina, Australia, and Singapore further underscores its global reach.
The Significance of the Reimbursement Recommendation in Spain
The national reimbursement recommendation in Spain is not only a testament to the drug’s efficacy and safety but also a critical step towards improving patient access to Fruzaqla across Europe. This development is expected to enhance the drug’s market penetration and potentially lead to additional reimbursement recommendations in other European countries, benefiting both HutchMed and Takeda in their joint efforts to provide effective treatment options for CRC patients.-Fineline Info & Tech
