HUTCHMED Reports 2025 Full Year Results and Business Updates - Geographic expansion driving ex-China sales growth; indication expansions driving China sales growth - - $457 million net income, driven by profitable core o

HUTCHMED Reports 2025 Full Year Results and

- Geographic expansion driving ex-China

sales growth; indication expansions driving China sales growth -

- $457 million net income, driven by

profitable core operations and non-core disposal -

- Rapidly progressing groundbreaking

ATTC technology, a source of novel drug candidates with broad therapeutic potential -

- Pursuing potential opportunities for

partnering ATTC candidates with multinational pharmaceutical companies -

Kong, Shanghai & Florham Park, NJ - Thursday, March 5, 2026: HUTCHMED (China) Limited ("HUTCHMED",

the "Company" or "we") (Nasdaq/AIM:HCM; HKEX:13) today reports its financial results for the year ended December 31,

2025 and provides updates on key clinical and commercial developments.

to host results webcasts at 8:00 a.m. EST / 1:00 p.m. GMT / 9:00 p.m. HKT in

English on Thursday, March 5, 2026, and tomorrow at 8:30 a.m. HKT in Chinese (Putonghua) on Friday,

March 6, 2026. After registration, investors may access the live webcast at www.hutch-med.com/event.

All amounts are expressed in US dollars unless

otherwise stated. A glossary of abbreviations is on page 29.

Global commercial progress, delivery of

sustainable growth and robust balance sheet

Antibody-Targeted Therapy Conjugate ("ATTC")

platform advances into clinical trials, paving the way for a rich pipeline of new drug candidates entering the clinic

Pipeline progress as planned across late-stage

Dr Dan Eldar, Non-executive Chairman of HUTCHMED,

said, "Our team's expertise in the science of creating novel medicines, enhanced by advanced AI tools, positions HUTCHMED

as a leader in advancing new modalities. Leveraging this leadership, we actively continue to explore new technologies, assets and targets

to complement our portfolio, ready to make good use of our strong balance sheet.

Our Business Development team has encountered

interest from multinational pharmaceutical companies to cooperate on the development and launch of novel drug candidates with potential

to become global market leaders. Any such potential partnerships would further validate the scientific and commercial value of our new

platforms, whilst allowing HUTCHMED to leverage the multinational partners' advantages regarding global development and marketing

expertise to accelerate its novel medicines to address large unmet needs around the world. This strategy has been successfully demonstrated

with FRUZAQLA and will be applied to our ATTC technology, which is expected to bear its first fruits this year.

Our company is at a pivotal point. We have repositioned our commercial

team to better meet challenges in our environment and to spur sales growth in China, delivering significant improvements from the second

quarter of 2025. With late-stage programs, we have demonstrated impressive clinical results in Phase III trials leading to NDA filings,

and we have proven experience in gaining approval with major regulatory authorities. Moreover, our large molecule technology platforms

have graduated from novel drug discovery into clinical development, with two such drug candidates so far. We see this as a golden opportunity

for HUTCHMED to not just work alongside with world leaders in the field, but also to increase our R&D investment and expedite the

broad therapeutic potential of our platforms."

Johnny Cheng, Acting Chief Executive Officer and Chief Financial Officer of HUTCHMED, said, "2025 has been challenging

and we have implemented changes to adjust dynamically our commercial operations. Our sales team has been streamlined and is now well

positioned to support growth of our key drugs, with improving sales during the second half of the year. This is all part of ensuring

we have a sustainable operation that is ready for the future, where strong earnings from our commercial products drive the development

of an exciting pipeline. Our next wave of products, such as sovleplenib and fanregratinib, are currently under regulatory review, strengthening

sales and earnings visibility of next few years. Our strong balance sheet with $1.4 billion in cash helps support expeditious development

of our ATTC technology platform and its novel drug candidates. 2025 was the third consecutive year of profits for HUTCHMED and we aim

to remain financially self-sufficient in discovering and developing more innovative assets into clinical phase."

Weiguo Su, Chief Executive Officer (currently on leave of absence) and Chief Scientific Officer of HUTCHMED, said, "We

are in a new era of innovative drug development where both speed and quality are more crucial than ever. The HUTCHMED team has consistently

risen to this challenge and the past year has been no exception. The late-stage clinical pipeline continues to progress and excite us,

whilst our prolific drug discovery engine also continues at pace. We are particularly enthusiastic about the potential of our ATTC platform,

originated by our scientists to combine the potency of small-molecule targeted therapy with the selectivity of antibodies. This approach

leverages our over 20 years of hard work developing novel, efficacious medicines with better safety profiles, allowing optimum dosing

and duration of treatment. We presented preclinical data on our first ATTC candidate at a major conference in October, obtained IND approval

in China and the US in November, and dosed our first patient in December. Our team is well equipped with deep knowledge in drug development

and experience in gaining approval for quality products around the world."

2025 Full Year Results &

I. COMMERCIAL OPERATIONS

Total in-market sales, including FRUZAQLA ,

ELUNATE , SULANDA and ORPATHYS , of $524.7 million achieved growth in 2025 of 5% despite

regulatory and commercial headwinds in the first half of 2025. Our performance in the second half of 2025 represents a significant inflection

point with 24% growth of in-market sales compared to first half of 2025 as we begin to see the benefits of repositioning our commercial

team to support continued growth.

in-market sales by Takeda were up 26% in 2025 at $366.2 million, driven by strong growth following approvals in 38 countries to

date, including over 15 in 2025. Recent growth was primarily due to continued launches across Europe, Asia and the Americas (late 2025

launches included Portugal, Belgium, South Korea and Mexico), as it addresses a need for new colorectal cancer treatments. Subsequent

reimbursement is also progressing, with availability to date in almost 20 countries, which led to strong uptake, most recently seen following

the UK NICE recommendation. The increase was partially offset by the sales impact of the US Medicare Part D Redesign that affected

many prescription medicines in 2025. FRUZAQLA stands out with its overall safety profile and low pill burden, alongside

attractive efficacy data.

Total consolidated revenue for oncology products

decreased 21% to $214.4 million as compared to 2024, primarily due to a $20 million commercial milestone payment from Takeda recognized

in 2024 and lower sales in China for ELUNATE , SULANDA , and ORPATHYS due to the aforementioned

headwinds. As with in-market sales, oncology product revenue in China have reached a similar inflection point with sales growth of 23%

in the second half of 2025 compared to the first half.

Other Oncology/Immunology revenue, consisting

of upfront, regulatory milestones, R&D services and licensing revenue was $71.1 million. Other Ventures revenue, mainly from prescription

drug distribution, remained flat at $263.0 million, leading to total consolidated revenue of $548.5 million.

ELUNATE and ORPATHYS mainly represent total sales to third parties as provided by Takeda, Eli Lilly and

AstraZeneca, respectively. ** FRUZAQLA represents manufacturing revenue, royalties and commercial

milestone paid by Takeda to HUTCHMED; ELUNATE represents manufacturing revenue, promotion and marketing services revenue

and royalties paid by Eli Lilly to HUTCHMED, and sales to other third parties invoiced by HUTCHMED; ORPATHYS represents

manufacturing revenue and royalties paid by AstraZeneca to HUTCHMED and sales to other third parties invoiced by HUTCHMED; SULANDA

and TAZVERIK represent HUTCHMED's sales of the products to third parties.

II. 2025 REGULATORY UPDATES

III. LATE-STAGE CLINICAL DEVELOPMENT ACTIVITIES

(ORPATHYS in China), a highly selective oral inhibitor of MET

(ELUNATE in China, FRUZAQLA outside of China), a highly selective oral

(HMPL-523), an investigative and highly selective oral inhibitor of Syk

(SULANDA in China), an oral inhibitor of VEGFR, FGFR and CSF-1R

(TAZVERIK in China), a first-in-class, oral inhibitor of EZH2

(HMPL-453), a novel, highly selective and potent inhibitor targeting FGFR 1, 2 and 3

IV. ANTIBODY-DRUG CONJUGATES RESEARCH &

has developed its comprehensive Antibody-targeted therapy conjugates (ATTCs) platform, next-generation solutions for small-molecule

inhibitor payloads conjugated to monoclonal antibodies to deliver dual mechanisms of action, designed to meet critical medical needs.

Each unique payload has broad potential to lead to a family of antibody conjugate drug candidates from this platform.

a first-in-class PI3K/PIKK-HER2 ATTC comprising of a highly selective and potent PI3K/PIKK inhibitor payload linked

to a humanized anti-HER2 IgG1 antibody, via a cleavable linker

a first-in-class PI3K/PIKK-EGFR ATTC comprising of a PI3K/PIKK inhibitor payload linked to a humanized anti-EGFR IgG1