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.£1788.1m
Last close2,945.00p
High / Low (52 weeks)3252.5p / 1680.0p
Stock market listingUS, LN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(3.1)32.862.3
Relative *(0.6)32.544.8

* % 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

Beaufort Securities Breakfast Alert:Everyman Media Group, Hutchison China ...

Tue, 14 Mar 2017 08:15:00 GMT

Hutchison China MediTech Ltd. (HCM) PT Raised to $26 at Stifel Following R&D Days

Tue, 04 Apr 2017 12:11:15 GMT

Hutchison China Meditech Limited: Positive Fruquintinib Pivotal Phase III Results

Fri, 03 Mar 2017 07:07:30 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) 14.6 252.1 N/A
2016A 216.1 (44.3) (47.4) 19.6 187.8 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 20/03/2017

Investment summary

HCM has built a substantial pipeline of potential first-in-class or best-in-class tyrosine kinase inhibitor (TKI) drugs, some of which are in development with strategic partners. We expect progress of the mid- to late-stage pipeline during 2017-18 (including US and China regulatory filings) to catapult the company into the international spotlight. The pipeline is progressing well, material clinical results are expected during the coming year. PBT excludes the earnings contributions from JVs, which in 2016 reported at $66.2m (as equity in investees, net of tax). Our forecasts are under review following FY 2016 results.

Last updated on 04/04/2017

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 04/04/2017

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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