Takeda Pharmaceutical Co. Ltd. TAKJP:4502 said Monday that it will acquire Hutchmed’s HCMHK:13 experimental cancer treatment outside mainland China, Hong Kong and Macau, with plans to develop and commercialize fruquintinib. Per the terms of the deal, Takeda will make an upfront payment to Hutchmed for $400 million, with up to $730 million in potential milestone and royalty payments. The drug, fruquintinib, is approved in China as a treatment for refractory metastatic colorectal cancer. It is currently under review at the Food and Drug Administration. U.S.-listed shares of Takeda are up about 11% over the past year, while the S&P 500 SPX has declined 9.7%.
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