HUTCHMED is transitioning from a development stage company into a global commercial organisation. Successful creation of a dedicated China Oncology sales platform, now marketing two products, reveals the path for global development. FY21 guidance for Oncology/Immunology revenues of $110m-130m (FY20 $30.2m) highlights the magnitude and trajectory of this shift, with approval of further products and indications on the near-term horizon. The impressive success of the discovery platform has generated 10 compounds that have progressed into the clinic: both as monotherapy and, importantly, in combinations, in China and globally. The first product wave is embarking on pivotal global studies, with the next wave progressing into proof-of-concept trials. Ahead of these important value-inflection points, we value HUTCHMED at $6.27bn (£4.83bn), equivalent to $43.10/ADS or 663p/share.
30 Mar 2021
Breaking new ground in China and globally
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Breaking new ground in China and globally
HUTCHMED (China) Limited (HCM:LON) | 264 6.6 0.9% | Mkt Cap: 2,302m
- Published:
30 Mar 2021 -
Author:
Franc Gregori | Lala Gregorek -
Pages:
33
HUTCHMED is transitioning from a development stage company into a global commercial organisation. Successful creation of a dedicated China Oncology sales platform, now marketing two products, reveals the path for global development. FY21 guidance for Oncology/Immunology revenues of $110m-130m (FY20 $30.2m) highlights the magnitude and trajectory of this shift, with approval of further products and indications on the near-term horizon. The impressive success of the discovery platform has generated 10 compounds that have progressed into the clinic: both as monotherapy and, importantly, in combinations, in China and globally. The first product wave is embarking on pivotal global studies, with the next wave progressing into proof-of-concept trials. Ahead of these important value-inflection points, we value HUTCHMED at $6.27bn (£4.83bn), equivalent to $43.10/ADS or 663p/share.