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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.£3181.3m
Last close4,775.00p
High / Low (52 weeks)5890.0p / 4000.0p
Stock market listingUS, LN
Forecast net debt (US$m)N/A
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(1.6)11.11.7
Relative *1.319.411.2

* % Relative to local index

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Company news

Chi-Med eyes global markets after cancer trial success

Fri, 03 Mar 2017 11:03:45 GMT

Hutchison China Meditech looks to first drug approval this year

Mon, 12 Mar 2018 08:15:00 GMT

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

Tue, 14 Feb 2017 09:22:59 GMT

News & Tips: AstraZeneca, Hutchison China Meditech, Hikma & more

Mon, 12 Mar 2018 11:37:12 GMT

Why Hutchison China MediTech Limited (LON:HCM) May Not Be As Efficient As Its ...

Wed, 24 Jan 2018 17:26:15 GMT

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2016A 216.1 (44.3) (47.4) 19.6 314.3 N/A
2017A 241.2 (50.7) (53.5) (43.3) N/A N/A
2018E 162.5 (94.8) (99.5) (109.5) N/A N/A
2019E 180.1 (113.9) (120.1) (139.4) N/A N/A

Last updated on 20/11/2018

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. Lead TKI asset, fruquintinib has received China registration approval from the National Medicinal Products Administration of China (NMPA) for the treatment of CRC (3L). The molecular epidemiology study data on savolitinib in PRCC could support a US NDA submission. The recent expansion of its US and international operations (US office in New Jersey and the appointment of US CMO and head of international operations) will enable HCM to execute its international R&D and commercialisation strategies for its wholly owned late-stage oncology assets. As of 30 June, HCM had net cash of $295.8m. Following the failure to reach the primary endpoint in the Phase III FALUCA trial, our valuation is under review.

Last updated on 29/11/2018

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, we expect HCM to become a major China and international oncology company.

Last updated on 29/11/2018

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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