Hutchmed's Deal with GSK Seems to Validate Drug Candidate Platform
Dow Jones
Yesterday
0607 GMT - Hutchmed (China)'s deal with GSK appears to validate a specific drug candidate platform of the Hong Kong-based biopharmaceutical company before it enters clinical trials, say Citi analysts in a note. Hutchmed entered an licensing deal with GSK that could be worth up to US$1.295 billion, excluding royalties on net sales, for a cancer drug. The deal, 1H sales momentum and a separate approval from Chinese regulators could materially improve visibility on Hutchmed's guidance, they say, noting the company expects 2026 oncology and immunology revenue of US$330 million-US$450 million. Citi raises its 2026-2028 oncology and immunology revenue estimates by 14%-27%. The bank lifts its stock target price to 39.00 Hong Kong dollars from HK$36.00. Shares are up 3.3% at HK$22.60.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.