Reprioritization accelerates the path to profitability

Evaluation of partnership opportunities for selected late-stage assets

HONG KONG, SHANGHAI, China and FLORHAM PARK, NJ, November 14, 2022 (GLOBE NEWSWIRE) – HUTCHMED (China) Limited (“Hutchmed‘) (Nasdaq/AIM:HCM; HKEX:13) today provides a corporate and strategic update following an in-depth review of the company.

In response to the challenging market conditions currently affecting the global biopharmaceutical sector, HUTCHMED has made a number of decisions aimed at accelerating HUTCHMED’s path to profitability and building a long-term sustainable business.

HUTCHMED is proactively making a strategic shift to focus on the most progressive assets from its internally developed pipeline that are most likely to drive near-term value. Corresponding:

• HUTCHMED will prioritize its late-stage and pivotal studies to focus on advancing these assets through regulatory approval, particularly global approval of fruquintinib.
• Select early-stage studies will not be prioritized for internal development, and others will be considered candidates for out-licensing opportunities, allowing the Company to focus its resources on its later-stage assets. As some related clinical trials are completed, HUTCHMED remains committed to ethical practices and patient care will continue to be our top priority.
• HUTCHMED will seek potential partnerships to commercialize its assets outside of China to accelerate the availability of innovative medicines to patients worldwide.

HUTCHMED will provide updates in due course detailing decisions on specific programs and progress made to streamline the organization and reallocate key talent to support pivotal studies and submissions.

In light of this strategic shift in focus, Dr. Michael Shi, currently Executive Vice President, Head of Research and Development and Chief Medical Officer, China, will be responsible for clinical development worldwide. under dr shit…