Hutchmed Gets $25M In Sales Milestone Payment For Orpathys From AstraZeneca

Hutchmed (China) Limited HCM announces the first commercial sale in China of Orpathys (savolitinib), a selective small-molecule inhibitor of MET, a receptor tyrosine kinase.
It follows less than three weeks after the approval of Orpathys in China to treat patients with locally advanced or metastatic non-small cell lung cancer with MET exon 14 skipping alterations, who have progressed following prior systemic therapy or are unable to receive chemotherapy.
The event has triggered a $25 million milestone payment under the terms of the license and collaboration agreement between Hutchmed and AstraZeneca Plc AZN.
Hutchmed is responsible for the clinical development, marketing authorization, manufacturing, and supply of Orpathys in China,
AstraZeneca is responsible for commercialization, in return for fixed royalties of 30% based on all China sales.
Price Action: HCM shares closed at $37.46 on Monday.