HUTCHMED (China) Limited (HCM) Friday said it will receive a milestone payment of $10 million from Takeda Pharmaceutical Company Limited (TAK) after Takeda received a national reimbursement recommendation for Fruzaqla for the treatment of colorectal cancer in Spain.
Fruzaqla, developed by HUTCHMED, has been licensed to Takeda to develop and sell globally, except in China, Hong Kong and Macau.
This is the first national reimbursement recommendation in Europe for Fruzaqla, which was approved by the European Commission in June this year.
For comments and feedback: editorial@rttnews.com