Takeda Pharmaceutical Co. Ltd. likes the de-risked status of the VEGF inhibitor it has licensed from HUTCHMED (China) Limited as well as the potential the drug offers to expand its global cancer franchise for solid tumors, particularly colorectal cancer, a Takeda exec told Scrip. The Japanese pharma announced on 23 January that it had acquired global development and commercial rights to fruquintinib, except for China, from HutchMed for $400m up front.
HutchMed – previously known as Hutchison China Meditech Ltd. (Chi-Med) – was among the Chinese biotechs that outlined plans in late 2022 to seek out-licensing opportunities to offset the financial downturn resulting from the continued COVID-19 pandemic in their home market