HUTCHMED: Significant 2022 achievements catalyse a promising 2023
HUTCHMED’s transition into a sustainably profitable global biopharma continues to gather momentum, as evidenced in FY22 results, with growing commercial traction in China and pipeline progress with key assets. Global ambitions are now being addressed with partners. Positive fruquintinib FRESCO-2 data, completion of US FDA rolling filing, and execution of a global ex-China commercial and development deal with Takeda brings first launch of a HUTCHMED product outside of China even closer. The $400m Takeda upfront will boost the balance sheet and the prospect of further downstream economics enables HUTCHMED to focus on progressing its priority late-stage assets which, with plans to secure further strategic partnerships, should drive near-term value. Our HUTCHMED valuation is US$5.5bn (US$32.01 per ADS), £4.6bn and HK$43.2bn (534p or HK$49.94 per share).Hutchison China MediTech is engaged in researching, developing, manufacturing and selling pharmaceuticals and healthcare products. Co. has research and development facilities and manufacturing plants in Shanghai and Guangzhou in the People's Republic of China and sells its products mainly in the PRC and Hong Kong. Co. operates two operating segments. The Innovation Platform focuses on discovering and developing therapeutics in oncology and autoimmune diseases, and the provision of research and development services. The Commercial Platform involves the manufacture, marketing and distribution of prescription and over the counter pharmaceuticals as well as consumer health products.
Takeda Pharmaceutical is a public company incorporated in Japan. Co. and its subsidiaries is a global pharmaceutical group and is engaged in the research, development, manufacturing and marketing of pharmaceutical products, over-the-counter (“OTC”) medicines and quasi-drug consumer products, and other healthcare products. Co.'s principal pharmaceutical products include medicines in the following therapeutic areas: gastroenterology, oncology and neuroscience.
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