Hutchison China MediTech - Elunate receives China NRDL inclusion

Hutchison China MediTech (HCM) has announced that Elunate (fruquintinib capsules) have been included in China’s National Reimbursement Drug List (NRDL) by the National Healthcare Security Administration (NHSA). Although expected, this is a huge positive as from 1 January 2020 Elunate will be available in all state-run hospital pharmacies and patients on NHSA insurance schemes will be reimbursed. HCM’s innovative oncology assets are making significant progress in China. It has now submitted the China NDA for surufatinib for treating non-pancreatic NET tumors, a large unmet clinical need. Surufatinib is likely to be the first of HCM’s non-partnered assets to reach the China market (late 2020). We value HCM at $5.7bn.