HUTCHMED
Hong Kong, China

HUTCHMED, a Hong Kong-based biopharmaceutical company, is on track to become a global leader in the discovery, development, and commercialisation of innovative, highly selective oral tyrosine kinase inhibitor therapies for oncology and immunological indications.

www.hutch-med.com

Investment Perspective

HUTCHMED has ambitious near- and medium-term growth plans, centred on its novel oncology products, to initially create a sizeable commercial organisation addressing Greater China whilst also building the appropriate infrastructure to address key global markets. The first product wave – Elunate (fruquintinib), Orpathys (savolitinib) and Sulanda (surufatinib) – are expected to post FY22 revenues of $160-$190m in China. The second and third waves of innovative programmes are progressing through development, with highly encouraging clinical profiles. This note details the status and relative importance of the key programmes and complements our September 2022 Outlook. Our valuation is $5.51bn/ £4.59bn/ HK$43.08bn, equivalent to $31.89/ADS or 531p/HK$49.83 per share.

Market information

SymbolExchanges
HCM/0013NASDAQ/AIM London/SEHK

Research

A sharper focus on the path to profitability
Lighthouse | 21 Nov 2022
Fruquintinib should continue to bear fruit
Lighthouse | 21 Nov 2022
FRESCO-2 data support broad uptake in later-line mCRC
Update | 21 Sep 2022

Recent News

Strategy to focus on late-stage pipeline regulatory approvals
15 Nov 2022
Top line data from FRUTIGA China Phase III in 2L gastric cancer
14 Nov 2022
Initiation of China Phase II/III of fruquintinib+ sintilimab for advanced RCC
27 Oct 2022
Initiation of China Phase II/III of sovleplenib for WAIHA
10 Oct 2022