Hutchmed Share News (HCM)

(Sharecast News) - Hutchmed China announced the first commercial sale in China of 'Orpathys', or savolitinib, on Tuesday, which is its "oral, potent, and highly-selective" small molecule inhibitor of MET, a receptor tyrosine kinase.


The AIM-traded firm noted that the sale came less than three weeks after the 22 June approval of Orpathys in China for the treatment of patients with locally-advanced or metastatic non-small cell lung cancer (NSCLC) with MET exon 14 skipping alterations, who had progressed following prior systemic therapy, or were unable to receive chemotherapy.

Under the terms of the licence and collaboration agreement between Hutchmed and AstraZeneca, a $25m non-creditable and non-refundable milestone payment was triggered by the first commercial sales of Orpathys in China.

Hutchmed is responsible for the clinical development, marketing authorisation, manufacturing and supply of Orpathys in China, while AstraZeneca was responsible for its commercialisation, for which it would pay Hutchmed fixed royalties of 30% based on all China sales.

"More than a third of the world's lung cancer patients are in China and, among those with NSCLC, approximately 2% to 3% have tumours with MET exon 14 skipping alterations, a targetable mutation in the MET gene," Hutchmed said in its statement.

"This mutation is more common among patients with pulmonary sarcomatoid carcinoma - a rare and aggressive subtype of NSCLC usually resistant to chemotherapy."

At 1535 BST, shares in Hutchmed China were up 1.13% at 535p.