On March 5, Hutchison MediPharma announced its financial results for 2025.

The market sales of four oncology products (fruquintinib, surufatinib, cevotinib, and tazestat) reached $524.7 million, a 5% increase. Sales in the second half of the year were up 24% compared to the first half of 2025.

the core product , fruquintinib (FRUZAQLA), increased by 26% to $366.2 million overseas , primarily driven by strong growth following approval in 38 countries, including approval in more than 15 countries by 2025. Further reimbursement coverage is also progressing steadily, with the product currently included in health insurance programs in nearly 20 countries.

of fruquintinib were $100.1 million , down from $115 million in 2024.

Other oncology/immunology revenue (including upfront payments, regulatory milestone payments, R&D services, and licensing revenue) was $71.1 million. Other revenue (primarily from prescription drug distribution) remained stable at $263 million. Total consolidated revenue was $548.5 million.

In addition, Hutchison MediPharma sold a 45% stake in Shanghai Hutchison Pharmaceuticals for US$608.5 million in cash in April 2025, realizing a net profit of US$415.8 million after tax. This resulted in a more than 11-fold year-on-year increase in its net income attributable to shareholders in 2025, reaching US$456.9 million. The cash balance at the end of the year reached US$1.4 billion.

In addition to its already marketed products, Hutchison MediPharma has several other products that are about to enter the commercialization stage.

for the highly selective oral Syk inhibitor solepinib (HMPL-523) for ESLIM-01 immune thrombocytopenic purpura was resubmitted in February 2026, supported by additional stability studies.

The Phase 3 trial of ESLIM-02 in China for the treatment of warm antibody-type autoimmune hemolytic anemia yielded positive results, meeting the primary endpoint of sustained response rate within 24 weeks. Hutchison MediPharma plans to submit a new indication marketing application to the National Medical Products Administration (NMPA) in the first half of 2026.

for fanregratinib (HMPL-453), a novel, highly selective, and potent FGFR 1/2/3 inhibitor, was accepted by the National Medical Products Administration in December and included in the priority review process for second-line treatment of intrahepatic cholangiocarcinoma.

Among the early-stage projects, the Antibody-Targeted Drug Conjugate (ATTC) platform is particularly promising, with two drugs already in clinical trials and a series of antibody-drug conjugate candidates expected to be derived from the platform.

This platform achieves a dual-action mechanism by conjugating small molecule targeted therapies as payloads with monoclonal antibodies.

The first ATTC candidate drug, HMPL-A251, has initiated its first clinical trial in December 2025 to evaluate HMPL-A251 for the treatment of adult patients with unresectable, advanced or metastatic solid tumors with HER2 expression. The study is being conducted in the United States and China.

This drug is a world-first PI3K/PIKK-HER2 ATTC, which consists of a highly selective and potent PI3K/PIKK inhibitor as the payload and a humanized anti-HER2 IgG1 antibody conjugated via a cleavable linker.

In October 2025, Hutchison MediPharma presented preclinical data of the drug at the AACR-NCI-EORTC International Conference on Molecular Targeting and Cancer Therapy, showing potent anti-tumor activity with synergistic and bystander killing effects, superior to combination dosing regimens of antibodies and payloads.

The clinical trial for the second ATTC candidate drug, HMPL-A580, was initiated in March 2026 for the indication of EGFR solid tumors, and the study is being conducted in the United States and China.

This drug is a world-first PI3K/PIKK-EGFR ATTC, which consists of a PI3K/PIKK inhibitor as the payload and a humanized anti-EGFR IgG1 antibody conjugated via a cleavable linker.

Preclinical data show that PAM pathway inhibition has a synergistic effect with anti-EGFR therapy, which can enhance anti-tumor activity.

The third candidate drug, HMPL-A830, is planned to submit a global new drug clinical trial application and start clinical trials in 2026.

potential opportunities to collaborate with multinational pharmaceutical companies to develop ATTC drug candidates in 2026 .

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