Hutchmed (China) Ltd - Hong Kong-headquartered biopharmaceutical company - Notes that Takeda Pharmaceuticals Co Ltd received a notification from the European Commission that it has approved Fruzaqla, alias fruquintinib, as a monotherapy for adults with metastatic colorectoral cancer who have been previously treated with available standard therapies. Takeda has the exclusive worldwide license to develop, commercialise and manufacture fruquintinib outside of mainland China.
"This is a significant milestone for Hutchmed, as it is the first product from our research and discovery engine to be approved in Europe, achieved through our partnership with Takeda to make this possible in such a short period of time," says Weiguo Su, chief executive officer & chief scientific officer of Hutchmed. He adds: "This novel oncology medicine is currently improving the treatment outlook in the US and China, and we look forward to seeing its impact for patients across Europe."
Current Hutchmed stock price: 282.12 pence per share, virtually flat on Monday morning in London
12-month change: up 53%
Current Takeda stock price: JPY4,095.00, closed 1.7% higher in Tokyo
12-month change: down 10%
By Tom Budszus, Alliance News slot editor
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Hutchmed (HCM)