Progress suggests that 2020 will be a decisive year
Lighthouse | 4 March 2020
Trinity Delta view: 2020 should be a decisive year as Elunate’s commercial traction starts to translate into meaningful revenues, and further product launches and regulatory filings are made. The impressive success of Chi-Med’s discovery programmes has generated a substantial pipeline of highly selective tyrosine kinase inhibitors (TKIs), purposefully designed to be first- or best-in-class. There are over 30 trials underway worldwide, with eight oncology programmes in development for the Chinese market (China Oncology) and five for global markets (Global Innovation). Visibility on likely launch timings should improve during the year, and efforts to replenish the earlier-stage pipeline appear very promising, with the next wave of compounds progressing well. We currently value Chi-Med at $5.21bn ($37.73/ADS) or £4.01bn (580p/share), although we will be updating our forecasts and rNPV based model following these results.
4 March 2020
|Price (US ADS) (UK share)||$24.78|
Hutchison China MediTech is a Hong Kong headquartered biopharma focused on discovering, developing and commercializing innovative targeted therapeutics and immunotherapies for the treatment of cancer and autoimmune diseases. It has a diverse pipeline of first-in-class/best-in-class selective oral tyrosine kinase inhibitors in development for the China and global markets.
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