HUTCHMED (China) (0013) announced on Thursday that its net profit plummeted 96.5 percent to US$15.9 million in its interim results for the six months ended June 30, while revenue remains flat.
The innovative and commercial-stage biopharmaceutical company said the loss is primarily due to a one-off gain of US$416.3 million from the disposal of a 45 percent equity interest in Shanghai Hutchison Pharmaceuticals in the same period last year, which created a high base for comparison.
Revenue for the period stood at US$278.3 million, broadly flat year-on-year. Within this, oncology/immunology business revenue grew 13 percent year on year to US$162.3 million, while R&D expenses increased 9 percent to US$78.8 million, mainly used to accelerate the Antibody-Targeted Conjugate (ATTC) platform and global clinical development.
In terms of product sales, the China market continued its recovery. Market sales of ELUNATE® grew 41 percent year on year to US$60.8 million, and SULANDA® rose 45 percent to US$18.4 million, driving total China oncology product market sales to US$279.8 million. Sales of FRUZAQLA® outside the U.S. increased by approximately 70 percent, and the product has now been approved or launched in 41 countries, pushing global market sales to US$185.4 million.
Full-year 2026 oncology/immunology revenue guidance ranged between US$330 million and US$450 million. The company said it would leverage its ample cash reserves to accelerate global R&D for the ATTC platform and explore strategic collaborations, driving the commercialization of innovative oncology products.
