China-based biopharma HutchMed (China) Ltd (NASDAQ: HCM, HKG: 0013) reported strong financial results for the first half of 2022, with oncology product sales soaring 82% year-on-year (YOY) to USD 87.4 million. The company expanded its commercial team to 800 staff, driving growth across its key products.
Product Sales Breakdown
- Elunate (fruquintinib): Sales grew 26% to USD 50.4 million, despite a 5% price reduction to retain its National Reimbursement Drug List (NRDL) status. Co-commercialized with Eli Lilly, the drug treats metastatic colorectal cancer (CRC).
- Sulanda (surufatinib): Sales rose 69% to USD 13.6 million, following a 52% price cut to secure NRDL listing. HutchMed independently markets the drug for neuroendocrine tumors (NETs).
- Orpathys (savolitinib): Generated USD 23.3 million in sales, co-commercialized with AstraZeneca for non-small cell lung cancer (NSCLC) outside the NRDL.
- Tazverik (tazemetostat): Launched via China’s Hainan Bo’ao Lecheng medical pilot zone after in-licensing from Epizyme.
Revenue Growth
HutchMed’s oncology business, including partnerships with AstraZeneca and Lilly, generated USD 91.1 million in revenue, up 113%. Total company revenues reached USD 202 million, up from USD 157.4 million in H1 2021.
Global Regulatory Focus
- Sulanda Setbacks: HutchMed withdrew Sulanda’s marketing authorization application (MAA) in Europe following a U.S. FDA Complete Response Letter (CRL) demanding a multi-region clinical trial (MRCT). The company cited limitations in conducting GCP/GMP inspections in China due to COVID-19.
- Elunate Global Push: HutchMed will focus on global approvals for Elunate, supported by data from the FRESCO-2 Phase III study. Top-line results are expected this month, with a rolling NDA submission to the U.S. FDA planned for later this year.-Fineline Info & Tech
