Hutchison China MediTech (HCM)

Business description

Hutchison China MediTech (HCM) is an innovative China-based biopharma company targeting the global market for novel, highly selective oral oncology and immunology drugs. Its established China Healthcare business is growing ahead of the market. HCM is the healthcare arm of CK Hutchison (c 40% listed on AIM and NASDAQ).

Stock data

Market cap.£2551.5m
Last close4,200.00p
High / Low (52 weeks)4562.5p / 1820.0p
Stock market listingUS, LN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual13.921.12131.09
Relative *10.2319.38113.62

* % Relative to local index

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Company news

Hutchison China MediTech shares tipped to hit record high

Mon, 13 Mar 2017 14:26:15 GMT

Chi-Med eyes global markets after cancer trial success

Fri, 03 Mar 2017 11:14:35 GMT

Hutchison China MediTech kicks off first human trial for potential new cancer drug

Tue, 14 Feb 2017 09:22:59 GMT

Hutchison China MediTech, AstraZeneca Present Savolitinib Combo Data

Tue, 17 Oct 2017 07:52:30 GMT

Why GlaxoSmithKline plc And Hutchison China MediTech Limited Are A Perfect Pairing

Fri, 17 Jul 2015 13:52:30 GMT

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2015A 178.2 (7.8) (10.5) 14.6 373.1 N/A
2016A 216.1 (44.3) (47.4) 19.6 277.9 N/A
2017E N/A N/A N/A N/A N/A N/A
2018E N/A N/A N/A N/A N/A N/A

Last updated on 18/10/2017

Investment summary

Data presented at the World Conference on Lung Cancer (WCLC) on combination approaches to treat resistant EGFR-driven non-small cell lung cancer (NSCLC) highlight a widening of the patient population that could be eligible to receive savolitinib in combination with either Tagrisso or Iressa. Partner AZN now has the data set to make a decision on global Phase III trials and evaluate breakthrough therapy designation (BTD) potential in both 2L and 3L EGFR-resistant NSCLC; in our view, data to date supports both. BTD could offer earlier entry into the US market. Furthermore, Phase II data presented on fruquintinib in combination with Iressa (first line EGFRm NSCLC) showed encouraging efficacy and acceptable safety. We place our forecasts and valuation under review as we revisit our peak sales assumptions.

Last updated on 19/10/2017

Industry outlook

HCM’s profitable Chinese healthcare business continues to benefit from the fast-growing domestic market, while the clinical, regulatory and technological environments are highly conducive to novel drug development. In the longer term, if the oncology and immunology pipeline comes to fruition, HCM has the potential to become a global oncology and immunology player.

Last updated on 03/10/2017

Key management

Simon To, Chairman
Christian Hogg, CEO
Johnny Cheng, CFO
Mark Lee, SVP, Corporate Fin & Dev.
Dr Weiguo Su, Chief Scientific Officer

Company address

21st Floor, Hutchison House
10 Harcourt Road
Hong Kong
Hong Kong
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