HUTCHMED (China) (HKG:0013) said it will receive a $10 million milestone payment from its partner Takeda Pharmaceutical (TYO:4502), which received a national reimbursement recommendation in Spain in December 2024, according to a Friday filing with the Hong Kong Stock Exchange.
The national reimbursement Takeda received is the first in Europe and relates to Fruzaqla (fruquintinib) for patients with previously treated metastatic colorectal cancer, the filing said.
Outside of China, Macau, and Hong Kong, Takeda has the exclusive worldwide license to develop further, commercialize, and manufacture fruquintinib, which treats colorectal cancer, according to the filing.
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