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和黄医药(00013) - 2024 - 年度财报
00013HUTCHMED(00013)2025-04-07 08:30

Financial Performance - The overall revenue for 2024 was 630.2million,down25630.2 million, down 25% from 838 million in 2023[28]. - The comprehensive income from oncology and immunology business totaled 363.4millionin2024,adecreaseof31363.4 million in 2024, a decrease of 31% from 528.6 million in 2023[29]. - The revenue from other businesses was 266.8millionin2024,down14266.8 million in 2024, down 14% from 309.4 million in 2023[29]. - The net income for 2024 was 37.7million,withacashbalanceof37.7 million, with a cash balance of 836.1 million as of December 31, 2024, achieving financial self-sufficiency ahead of schedule[15]. - The net income attributable to the company for 2024 was 37.7million,comparedto37.7 million, compared to 100.8 million in 2023, a decrease of approximately 63%[53]. - The company reported a pre-tax gain of approximately 477millionfromthesaleofitsstakeinShanghaiHengruiPharmaceutical[143].−Thecompany′sconsolidatedrevenuefor2024was477 million from the sale of its stake in Shanghai Hengrui Pharmaceutical[143]. - The company's consolidated revenue for 2024 was 630.2 million, a decrease of 25% compared to 2023[148]. - The revenue from the oncology/immunology business dropped by 31% to 363.4millionin2024[148].OncologyProductSales−FRUZAQLA®(fruquintinib)generatedsalesof363.4 million in 2024[148]. Oncology Product Sales - FRUZAQLA® (fruquintinib) generated sales of 290.6 million outside of China in 2024, driven by rapid patient acceptance in the U.S. and approvals in the EU and Japan, contributing to a total market sales growth of 134% to 501millionforoncologyproducts[15].−Thecomprehensiverevenueforoncologyproductsreached501 million for oncology products[15]. - The comprehensive revenue for oncology products reached 271.5 million, marking a 65% increase[15]. - The oncology product market sales increased by 134% to 501millionin2024,comparedto501 million in 2024, compared to 213.6 million in 2023[27]. - FRUZAQLA® achieved sales of over 200millionwithinitsfirstyear,markingasignificantsalesmilestone[22].−ThesalesofORPATHYS®(SAVORET)in2024were200 million within its first year, marking a significant sales milestone[22]. - The sales of ORPATHYS® (SAVORET) in 2024 were 45.5 million, a slight decline of 2% from 46.1millionin2023[27].−ELUNATE®salesgrewby746.1 million in 2023[27]. - ELUNATE® sales grew by 7% (9% at constant exchange rates) to 115 million in 2024, up from 107.5millionin2023,maintainingaleadingmarketshareinmetastaticcolorectalcancerdespiteincreasingcompetition[31].−SULANDA®salesincreasedby12107.5 million in 2023, maintaining a leading market share in metastatic colorectal cancer despite increasing competition[31]. - SULANDA® sales increased by 12% (14% at constant exchange rates) to 49 million in 2024, compared to 43.9millionin2023,withmarketsharerisingto2743.9 million in 2023, with market share rising to 27% from 21%[31]. - Total revenue from oncology products surged by 65% (67% at constant exchange rates) to 271.5 million in 2024, exceeding the growth guidance of 30% to 50%[31]. Research and Development - The SACHI Phase III study for savolitinib in treating MET-amplified EGFR mutation non-small cell lung cancer achieved its primary endpoint, with a new drug application submitted and accepted for priority review by the National Medical Products Administration[15]. - The FRUSICA-2 Phase III study for fruquintinib and sintilimab combination therapy in second-line renal cell carcinoma showed positive results[15]. - The new generation ATTC platform is expected to leverage over 20 years of expertise in targeted therapies and small molecule inhibitors, with the first candidates anticipated to enter clinical development by the end of 2025[15]. - The company plans to rapidly enter clinical development phases for new innovative drugs using its ATTC platform this year[22]. - The overall response rate for Solitomab in the ESLIM-01 study was 81.0%, significantly outperforming various other developing therapies[25]. - The company is expecting to expand the indications for SAVORET based on positive mid-term analysis results from the SACHI study[24]. - The new drug application for SAVOLITINIB was accepted for priority review in December 2024, triggering a milestone payment from AstraZeneca[33]. - The new indication for FRUZAQLA® was approved in December 2024 for use in endometrial cancer, in combination with TYVYT®[33]. Strategic Initiatives - An agreement was reached to sell a 45% stake in the joint venture Shanghai Hutchison Pharmaceuticals for 608million,contingentonclosingconditions[19].−Thecompanyaimstoacceleratethedevelopmentofitsdifferentiatednewtechnologyplatform,supportedbyproceedsfromthesaleofShanghaiHutchisonPharmaceuticalsandongoingglobalcommercializationprofits[19].−Thecompanyisfocusedonmaintaininglong−termshareholdervalueandadvancingitsproductpipelineinnewandpromisingdirections[17].−Thecompanyispreparingtosetnewsustainabilitygoalsbasedonitsfivekeypillarsofsustainabledevelopment[48].−ThecompanyisconsideringexpandingitsproductionfacilitiesorexternalcollaborationstoincreasebiopharmaceuticalcapacityforfutureATTCproduction[137].ClinicalTrialsandApprovals−TheSAVANNAHglobalphaseIIstudyshowedhighandclinicallymeaningfulresponseratesforSAVOLITINIBintreatingnon−smallcelllungcancerpatientswithMETamplification[36].−TheORRfortheFRUSICA−1studyintreatingpMMRendometrialcancerwasreportedat35.6608 million, contingent on closing conditions[19]. - The company aims to accelerate the development of its differentiated new technology platform, supported by proceeds from the sale of Shanghai Hutchison Pharmaceuticals and ongoing global commercialization profits[19]. - The company is focused on maintaining long-term shareholder value and advancing its product pipeline in new and promising directions[17]. - The company is preparing to set new sustainability goals based on its five key pillars of sustainable development[48]. - The company is considering expanding its production facilities or external collaborations to increase biopharmaceutical capacity for future ATTC production[137]. Clinical Trials and Approvals - The SAVANNAH global phase II study showed high and clinically meaningful response rates for SAVOLITINIB in treating non-small cell lung cancer patients with MET amplification[36]. - The ORR for the FRUSICA-1 study in treating pMMR endometrial cancer was reported at 35.6%, with a median PFS of 9.5 months and median OS of 21.3 months, demonstrating controllable safety[37]. - The ESLIM-01 study for primary immune thrombocytopenia showed a sustained response rate of 48.4%, with consistent safety features and quality of life improvements, and a long-term sustained response rate of 59.8% reported at the ASH conference[37]. - The overall response rate for the study on warm antibody autoimmune hemolytic anemia was 66.7%, with good safety characteristics, and the ESLIM-02 study has been initiated[37]. - The completion of the Phase II portion of the study for the treatment of metastatic pancreatic ductal adenocarcinoma is expected by the end of 2025[38]. - The new drug application review for the EZH2 inhibitor is anticipated to be completed in early 2025[39]. - The HMPL-453 study for intrahepatic cholangiocarcinoma with FGFR2 fusion/rearrangement completed enrollment in March 2025[39]. - The company has submitted a new drug application for a bridging study in follicular lymphoma, which has been prioritized for review[42]. Corporate Governance and Leadership - The company has a strong leadership team with extensive experience in biotechnology and finance, including the CEO who has been with the company since 2012[183][184]. - The company has a diverse board of directors with members holding significant positions in other major companies, enhancing its governance and strategic oversight[185][189]. - The company has a robust compliance and governance framework, with its company secretary having over 40 years of experience in legal and corporate governance matters[186]. - The company is actively involved in the development of new therapeutic technologies and products, leveraging the extensive experience of its board members[192][197]. - The company is focused on expanding its market presence through strategic partnerships and collaborations in the biotechnology sector[192]. Market Presence and Collaborations - The company is expanding its market presence in China, with a dedicated focus on healthcare investments[189]. - Takeda has paid 470 million in upfront and milestone payments for the exclusive global rights to develop and commercialize Fruquintinib outside of China, Hong Kong, and Macau[93]. - The FRESCO-2 study is set to expand into ten additional countries, including Japan, by the end of 2025[95]. - The company has established a supply chain for FRUZAQLA® in global markets, with two production bases qualified to supply the U.S. market[136]. - The company established a strategic collaboration with Chuangxiang Biotechnology to develop two new candidate drugs (IMG-004 and IMG-007) for treating various immune diseases, with a 7.5% equity stake in Chuangxiang Biotechnology acquired by the company[132].