In This Article:
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Hutchmed (China) Limited (NASDAQ: HCM) announces the first commercial sale in China of Orpathys (savolitinib), a selective small-molecule inhibitor of MET, a receptor tyrosine kinase.
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It follows less than three weeks after the approval of Orpathys in China to treat patients with locally advanced or metastatic non-small cell lung cancer with MET exon 14 skipping alterations, who have progressed following prior systemic therapy or are unable to receive chemotherapy.
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The event has triggered a $25 million milestone payment under the terms of the license and collaboration agreement between Hutchmed and AstraZeneca Plc (NASDAQ: AZN).
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Hutchmed is responsible for the clinical development, marketing authorization, manufacturing, and supply of Orpathys in China,
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AstraZeneca is responsible for commercialization, in return for fixed royalties of 30% based on all China sales.
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Price Action: HCM shares closed at $37.46 on Monday.
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