HUTCHMED (China) (HCM) Goldman Sachs 45th Annual Global Healthcare Conference summary

Key product updates and clinical data

• Fruquintinib shows significant PFS and OS improvements in colorectal and gastric cancer, with robust response rates and ongoing label expansion in China and globally.

• Phase II and III trials for fruquintinib in endometrial and renal cancer are progressing, with NDA submissions expected this year and next.

• Savolitinib, in partnership with AstraZeneca, targets MET-positive lung cancer, with global NDA submission planned based on SAVANNAH trial data.

• Sovleplenib in ITP demonstrates a 48% response rate in heavily pretreated patients, outperforming existing SYK inhibitors, with zero thromboembolic events.

• Additional development for sovleplenib includes global phase I trials and potential expansion into earlier lines and other autoimmune diseases.

Commercialization and partnership strategy

• Strategic partnerships with Takeda and AstraZeneca enable global commercialization, leveraging partner strengths in marketing and regulatory navigation.

• Licensing and partnership models are preferred to mitigate geopolitical risks and accelerate global launches.

• Recent Takeda deal provided a $400 million upfront payment, supporting financial stability and de-risking commercialization.

• Focus remains on product quality, regulatory compliance, and manufacturing excellence to differentiate from competitors.

Regulatory and financial outlook

• Multiple NDA submissions and approvals are anticipated in 2024–2025 for key products and new indications.

• Targeting commercial breakeven and sustainable profitability by 2025, supported by a strong cash position and new manufacturing capacity.

• Manufacturing plant in Shanghai to enhance cost synergies and production margins as it scales to commercial readiness.

• Continued focus on expanding the pipeline and leveraging expertise for future growth in uncertain capital markets.