HUTCHMED sees global stage for its cancer drugs in 2022

HUTCHMED, a Chinese biopharmaceutical company, has advanced 12 cancer drug candidates it manufactured to clinical research stage around the world. This includes three innovative oncology drugs that have been approved for the China market, senior executives of the enterprise said at a meeting while releasing its 2021 performance on Friday.

The company with an 800-member research and development force in new drug discovery, development and manufacture — including 130 in the United States and Europe — said it is making rapid progress toward introducing its oncology drugs in the global market.

Senior executives of the company established in 2000 said that its main drug, surufatinib, launched in the China market in January 2021 to treat neuroendocrine tumors (NET), is expected to be approved overseas for the first time this year.

"Clinical data of the oral capsule in the US has so far shown results that are completely consistent with that in China, which fully reflects its stability," said Su Weiguo, executive director, CEO and chief scientific officer of HUTCHMED.

"Also, surufatinib is so far the only small-molecule targeted therapy that addresses all NET patients regardless of the origin of the tumor, and we believe that this drug will benefit many patients," he said.

The company said that drug authorities in the US and Europe are currently at their later phase of examining and appraising the drug for market approval.

Chen Hong, senior vice-president and chief commercial officer of the company, said that the anticipated overseas market debut of surufatinib, which realized 51 percent sales boost in the domestic market last year, will be a milestone to the enterprise's commercial footprint internationally.

"The US is undoubtedly a key overseas market in the company's global blueprint so far, and we'll expand our sales teams and system there. Besides, we may also focus on the European Union and Japan in the future," Su said.

Johnny Cheng, executive director and chief financial officer of the company, said that the company's R&D expenditure in China rose by 43 percent to $159 million last year, while that in the US and Europe increased by 121 percent to more than $140 million.

According to company sources, phase-III global clinical trials of another drug, fruquintinib, which was approved for the treatment of metastatic colorectal cancer in China, has completed patient recruitment in 14 countries, and the results are expected to be published within this year.

In the China market, the company said, its oncology and immune revenue nearly quadrupled and reached $119.6 million last year. It said it is confident that its momentum of growth will continue in 2022.