LONDON, Aug. 20, 2018 (GLOBE NEWSWIRE) -- Highlights from Hutchison China MediTech’s (HCM) H118 results relate to the substantial pipeline-related newsflow expected in 2018/19, the recent expansion of its US and international operations (which will enable HCM to execute its international R&D and commercialization strategies) plus strong operational and financial performance by the China commercial platform division. Fruquintinib (third-line CRC) remains on track to launch in China by year end (approval decision expected by the CNDA in the next few months). Encouraging Phase II data so far on savolitinib (first-line NSCLC exon14m/deletion) could lead to accelerated approval in China, contingent on final data (expected in 2020) being consistent with data to date. We value HCM at $6.4bn.

Our increased valuation of $6.4bn or $48.2/ADS (from $6.4bn or $47.9/ADS) results from rolling forward our DCF and updating FX rates, offset by a lower net cash position at 30 June 2018 and higher R&D in 2018 and 2019. We value the Innovation Platform (IP) at $4,780.5m and placing the Commercial Platform’s (CP) 2018e share of net profit on a 20.4x rating gives $848.2m (945p/share).   Click here to view the full report.

All reports published by Edison are available to download free of charge from its website www.edisoninvestmentresearch.com

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Edison is authorised and regulated by the Financial Conduct Authority .

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities.

For more information please contact Edison:

Dr Susie Jana, +44 (0)20 3077 5700 Dr Daniel Wilkinson, +44 (0)20 3077 5734 Healthcare@edisongroup.com

Learn more at www.edisongroup.com and connect with Edison on:  LinkedIn          https://www.linkedin.com/company/edison-investment-research Twitter             www.twitter.com/Edison_Inv_Res YouTube         www.youtube.com/edisonitv