Pharma BD Deal Intelligence
Takeda acquired exclusive worldwide ex-China license to HUTCHMED's fruquintinib for $400M upfront and up to $730M in regulatory, development and commercial sales milestones plus royalties (total $1.13B). Phase 3 FRESCO-2 met its OS endpoint in refractory metastatic CRC. Deal closed March 14, 2023. The asset has since become a commercial success: FDA approval (Nov 8, 2023) under the brand FRUZAQLA was followed by European Commission approval (June 21, 2024), Japan approval (Sept 2024), and Health Canada authorization (2025). FRUZAQLA generated $290.6M in ex-China in-market sales in 2024 (2023 launch stub: $15.1M), triggering HUTCHMED's first $20M commercial milestone payment in Oct 2024 after sales surpassed $200M within a year of launch.