Chi-Med: China approval clears Sulanda in epNET
The China regulator has approved Hutchison China MediTech’s (Chi-Med’s) second internally discovered cancer drug, surufatinib (brand name Sulanda) for the treatment of epNET (non-pancreatic [extra-pancreatic] neuroendocrine tumours). Sulanda will be Chi-Med’s first unpartnered oncology drug launch in China, with potential for a label extension in pancreatic NET (pNET) later in 2021. Surufatinib is also on track to become Chi-Med’s first marketed drug in the US with the recent initiation of a rolling NDA submission for advanced NETs. The totality of the clinical data package shows a significant benefit to NET patients irrespective of tumour origin; with surufatinib addressing a major unmet need it has the potential to be the first global treatment option for NETs. Our valuation is increased to £6.45/share or $41.94/ADS.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.
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