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BUZZ-HUTCHMED hits 2-month high on drug application for kidney cancer treatment

Reuters
Jun 05
BUZZ-HUTCHMED hits 2-month high on drug application for kidney cancer treatment

** Shares of biopharmaceutical group HUTCHMED (China) Ltd 0013.HK jump 9.7% to HK$26, their highest since April 2

** Stock on course for third consecutive session of gains

** HUTCHMED and Іnnovent Biologics 1801.HK say in a joint statement that China National Medical Products Administration (NMPA) has accepted for review the New Drug Application for the combination of fruquintinib and sintilimab for treatment of renal cell carcinoma in kidney cancer

** Fruquintinib is co-developed and co-commercialized in China by HUTCHMED and Eli Lilly LLY.N

** Sintilimab is co-developed and co-commercialized by Іnnovent and Eli Lilly

** Hong Kong's healthcare index .HSCIH falls 1.6%, Hang Seng Biotech Index .HSHKBIO drops 1.8%

** YTD, HUTCHMEd stock up 5.8%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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