LONDON, UK / ACCESSWIRE / April 22, 2020 / Notwithstanding the COVID-19 pandemic challenges, Hutchison China MediTech (NASDAQ:HCM) remains on track for potential approval and launches of two additional assets (surufatinib and savolitinib) in China in 2020/21. HCM is actively engaging with regulators (including the China NMPA and US FDA) with regards to trial initiations and NDA submissions as it continues on its trajectory to a global innovative oncology company. Furthermore, given the broader pipeline progression, it has a high level of visibility on data submission to regulators and international scientific conferences this year, including ASCO, AACR and ESMO. Importantly, with the China COVID-19 experience under its belt, HCM is positioned to capitalize on its experience of conducting business in a COVID-19 environment. We expect 2022/23 to benefit from global drug launches providing continued pipeline progression.
Our valuation is unchanged at $5.9bn ($42.57/share). Our valuation includes net cash of $190m at end December 2019 plus $110m net proceeds from the January 2020 capital raise.
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