Hutchmed Reports $456.9M Net Income and 26% Ex-China Sales Growth
HUTCHMED reported 2025 net income of $456.9 million and $1.4 billion cash, boosted by a $415.8 million disposal gain. Ex-China FRUZAQLA sales rose 26% to $366.2 million, and its ATTC platform entered clinical trials with three candidates initiated by March 2026.
1. Financial Highlights
HUTCHMED posted net income attributable of $456.9 million for full-year 2025 versus $37.7 million in 2024, with a year-end cash balance of $1.4 billion boosted by a $415.8 million divestment gain net of tax.
2. Commercial Performance
Ex-China in-market sales of FRUZAQLA rose 26% to $366.2 million in 2025 driven by Takeda launches and expanded reimbursement, while ELUNATE in China generated $100.1 million, with H2 sales up 33% vs. H1. ORPATHYS secured an $11.0 million milestone payment for its third lung cancer indication approval in China.
3. ATTC Platform Progress
The Antibody-Targeted Therapy Conjugate platform advanced rapidly into the clinic with HMPL-A251 starting in December 2025, HMPL-A580 initiated in March 2026 and HMPL-A830 targeting Phase I by year-end. The company is pursuing partnerships to co-develop these novel drug candidates with multinational pharmaceutical firms.
4. Late-Stage Pipeline Advances
Late-stage clinical programs delivered robust data, including positive FRUSICA-2 Phase III leading to NMPA sNDA acceptance, a 22.2 vs. 6.9 month mPFS for ELUNATE plus sintilimab in second-line kidney cancer, and sovleplenib meeting its durable response primary endpoint in wAIHA Phase III, with multiple NDA filings and readouts expected within the next 12 months.