Fubotv earnings beat by $0.10, revenue topped estimates
HONG KONG - Hutchmed (China) Limited (Nasdaq/AIM:HCM; HKEX:13) reported Thursday a significant boost in net income to $455 million for the first half of 2025, primarily driven by a $416.3 million gain from the partial divestment of a non-core joint venture.
The biopharmaceutical company’s total revenue decreased 9% to $277.7 million compared to $305.7 million in the same period last year, with oncology/immunology consolidated revenue down 15% to $143.5 million.
A key development was the China approval of ORPATHYS (savolitinib) for its third lung cancer indication on June 30, targeting EGFR-mutant non-small cell lung cancer patients with MET amplification after progression on EGFR inhibitor treatment. The approval triggered an $11 million milestone payment from AstraZeneca (NASDAQ:AZN).
While Takeda’s in-market sales of FRUZAQLA (fruquintinib) outside China grew 25% to $162.8 million as its geographical coverage expanded to more than 30 countries, China sales of ELUNATE (fruquintinib) fell 29% to $43 million due to competitive pressures.
The company’s cash position strengthened significantly to $1.36 billion as of June 30, 2025, compared to $836.1 million at the end of 2024, bolstered by the $608.5 million in proceeds from divesting a 45% equity stake in Shanghai Pharmaceuticals Limited while retaining a 5% interest.
Hutchmed also announced progress with its new Antibody-Targeted Therapy Conjugates platform, with plans to initiate clinical development of its first drug candidate by late 2025.
The company updated its full-year 2025 guidance for oncology/immunology consolidated revenue to $270-350 million, citing the phasing of milestone income from partners to 2026 and beyond.
This article is based on a press release statement from Hutchmed.
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