Chi-Med reported FY18 results that met or beat expectations. Group revenues were $214.1m, down from $241.2m as the two-invoice impacted how domestic China sales are reported, with the JV revenues growth of 13.4% to $491.5m (from $433.3m) being a better reflection of the Commercial Platform’s performance. R&D spend in the Innovation Platform was $142.2m, up from $88.0m, as more later-stage clinical studies are undertaken. This sees the Group’s attributable net loss rising to $74.8m, against $26.7m last year. Cash resources remained strong, with $420.3m available at December 2018, versus $479.6m in 2017.
11 Mar 2019
FY18 results as expected, plentiful news flow in FY19
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FY18 results as expected, plentiful news flow in FY19
HUTCHMED (China) Limited (HCM:LON) | 267 -2.7 (-0.4%) | Mkt Cap: 2,326m
- Published:
11 Mar 2019 -
Author:
Mick Cooper PhD -
Pages:
2
Chi-Med reported FY18 results that met or beat expectations. Group revenues were $214.1m, down from $241.2m as the two-invoice impacted how domestic China sales are reported, with the JV revenues growth of 13.4% to $491.5m (from $433.3m) being a better reflection of the Commercial Platform’s performance. R&D spend in the Innovation Platform was $142.2m, up from $88.0m, as more later-stage clinical studies are undertaken. This sees the Group’s attributable net loss rising to $74.8m, against $26.7m last year. Cash resources remained strong, with $420.3m available at December 2018, versus $479.6m in 2017.