Amendment yesterday to our collaboration with AstraZeneca under which Chi-Med has agreed to provide up to $50 million for the joint-development costs of savolitinib in return for a 5 percentage point increase in the tiered royalty rates payable on savolitinib sales across all indications in all markets outside of China.m. investors will also be held today at 9:00 a.8m) due primarily to continued expansion of coronary artery disease prescription drug business.S.6m); Total sales of non-consolidated joint ventures up 9% to $249.9 million net proceeds of our March 2016 Nasdaq listing. She Xiang Bao Xin ("SXBX") pill - our most important commercial product, is a prescription vasodilator proprietary to our joint venture: Accounted for approximately 12% of China’s over $1.ukCitigate Dewe (Mobile)RogersonU.8m) at the Chi-Med Group level, including cash and cash equivalents, short-term investments and unutilized banking facilities. 3.Innovation Platform - Seven drug candidates in 25 clinical trials (H1 2015: 17) including four pivotal Phase III studies (H1 2015: 1).5 million (H1 2015: $15. Glioblastoma: Planning underway to start a Phase II study in glioblastoma, a primary brain cancer with EGFR gene amplification, in early 2017. A conference call for U. Our partnerships with major global pharmaceutical companies, created when the global scope of our drug candidates began to emerge, continue to allow us to broaden development plans and represent important global marketing and distribution resources. Substantially completed move to new factory in Shanghai, almost tripling the manufacturing capacity of our Prescription Drugs joint venture. NSCLC with brain metastasis: Phase Ib study in NSCLC patients with brain metastasis ongoing; granted China FDA Phase II/III clinical trial application clearance granted in July 2016; target to initiate pivotal registration study in H1 2017. Completed enrollment of a Phase II study of sulfatinib in 81 broad-spectrum NET patients in China; median Progression Free Survival ("PFS") not yet reached; now enrolling two Phase III studies, named SANET-p (in pancreatic NET patients) and SANET-ep (in extra-pancreatic NET patients), with primary endpoint median PFS; Phase III top-line data expected in 2018.Our pragmatic approach to finance and risk management has enabled us to build our drug pipeline over a dozen years. Subject to approval in the PRCC indication, Chi-Med will receive a 5 percentage point increase in the global (excluding China) tiered royalty rate payable on savolitinib sales across all indications, thereby increasing the tiered royalty to 14% to 18%.8m). We target to initiate pivotal registration trials on two further drug candidates before the end of H1 2017, including:Savolitinib Phase III in c-Met-driven PRCC patients; Epitinib Phase II/III in first-line patients with EGFR-mutant NSCLC patients with brain metastasis; and Savolitinib Phase III in combination with Tagrisso® in second-line NSCLC (T790M-/c-Met+) patients. Non-small cell lung cancer ("NSCLC"): a.Conference Call and Webcast Information:An analyst presentation and webcast will be held today at 9:00 a.6 million (H1 2015: $10.dible@citigatedr.1 million (H1 2015: $19.The progress of our drug pipeline and strong cash position, resulting from our increased commercial profits and recent Nasdaq listing, have enabled us to renegotiate our collaboration agreement with AstraZeneca to take a greater share in the potential long-term economic value of savolitinib in return for increasing our investment in savolitinib’s development. HKT) at Citigate Dewe Rogerson, Third Floor, 3 London Wall Buildings, London, EC2M 5SY.comTrout Group (Mobile)David Dible, +44 7967 566 919 david.5m).7 million (H1 2015: net income $2.S. Immunology: Australia Phase I study completed with no evidence of the hypertension/gastrointestinal toxicities encountered by the first-generation Syk inhibitor (fostamatinib); U. 2.m. Initiated or continued four further Phase Ib/II studies in first-, second- and third-line NSCLC patients, including (i) as a monotherapy in NSCLC patients with c-Met mutations that result in Exon 14 skipping; (ii) as a monotherapy in pulmonary sarcomatoid carcinoma ("PSC") patients with mutations that result in Exon 14 skipping; (iii) as a combination therapy with Iressa® (gefitinib) in NSCLC patients with EGFR mutations and who have failed first-line EGFR TKI therapy; and (iv) as a combination therapy with Tagrisso® in third-line NSCLC patients who have failed Tagrisso® therapy.3 million (H1 2015: $26.3 million (H1 2015: $55. UK Analysts Meeting and Webcast Scheduled Today at 9:00 a. dollar terms.b. Available cash resources of $197.S. specialist investors and strengthened our cash position. All other provisions of the 2011 Agreement will remain unchanged. A Phase Ib dose finding study of savolitinib in combination with Taxol® (docetaxel) in gastric cancer patients with c-Met over-expression is ongoing in South Korea.S.5%. Food & Drug Administration ("FDA") and European Medicines Agency ("EMA"); alignment on plans for global savolitinib monotherapy Phase III study in c-Met-driven papillary renal cell carcinoma ("PRCC") patients. NET (first-line): a.Group ResultsConsolidated revenue up 27% to $104.S.Chi-Med is majority owned by the multinational conglomerate CK Hutchison Holdings Limited ("CK Hutchison") (SEHK: 0001). and European regulatory authorities in end-of-Phase II meetings on savolitinib and completing enrollment of our first Phase III study on fruquintinib. Commercial Platform - a deeply established, cash-generative, pharmaceutical business in China - a commercialization framework for our Innovation Platform candidate drugs.Completed Nasdaq listing, raising net proceeds of $95.0 million (H1 2015: $24. This triggered a $10 million milestone from AstraZeneca to Chi-Med in June 2016. Biliary tract cancer: Planning underway to start a Phase II study in China in late 2016. Under the amendment, Chi-Med will contribute up to $50 million, spread primarily over three years, to the joint-development costs of the global pivotal Phase III study in c-Met-driven PRCC. Total consolidated sales up 48% to $82.co.9m); SXBX pill represents 87% of the sales of SHPL, our joint venture, which contributed 91% of our $16.S. Production facility in Suzhou, China, operational and ready to support fruquintinib’s potential commercial launch. Proof-of-concept studies of savolitinib as a monotherapy in gastric cancer patients with c-Met gene amplification are ongoing in South Korea and China; promising response data, was published by Dr.3.S. Triggering about $114 million total cash compensation and subsidies for the surrender of its land-use rights for its old factory site. Phase I dose confirmation study in Caucasian patients - currently in 200mg cohort and closing in on China 300mg Phase III dose; expected to complete in H2 2016. Planning to publish proof-of-concept or pivotal trial data on four drug candidates at scientific meetings through Q1 2017. GAAP") and in U. We also conduct our business through three non-consolidated joint ventures, which are accounted for under the equity accounting method as non-consolidated entities in our consolidated financial statements.9m). Within this announcement, we refer to certain financial results reported by such non-consolidated joint ventures, which are based on figures reported in their respective consolidated financial statements prepared pursuant to International Financial Reporting Standards (as issued by the International Accounting Standards Board).m. Unless otherwise indicated, references to "subsidiaries" refer to our consolidated subsidiaries and joint ventures (excluding non-consolidated joint ventures). Total sales of non-consolidated joint ventures up 9% to $249. Epitinib: Highly differentiated inhibitor of the EGFR designed for optimal blood-brain barrier penetration: 1. dollar currency unless otherwise stated. immunology IND application submitted in H1 2016 - U. generally accepted accounting principles 2016 is the first full year of Seroquel® commercialization under Chi-Med.7 million (H1 2015: $125.6 million (H1 2015: $10. We believe this benefits both Chi-Med and AstraZeneca as it allows us to accelerate and broaden savolitinib’s late-stage development in multiple oncology indications.All aspects of our Innovation Platform’s risk-balanced, innovative drug pipeline have moved forward, including progress in aligning with U.co.9m) spending mainly for 25 clinical trials, four of which are pivotal Phase III studies on fruquintinib and sulfatinib, as well as the continued expansion of our scientific team, which now includes over 310 scientists and staff. Consequently, we view the future with great confidence. Seroquel® - prescription antipsychotic under exclusive commercial license from AstraZeneca within China: Accounted for approximately 5% of China’s antipsychotic prescription drug and 46% of the generic quetiapine market; Seroquel® is the only extended release ("XR") quetiapine formulation approved in China; H1 2016 sales up 282% to $17.4. In the first half, we completed our Nasdaq listing, which broadened our exposure to U. -- HONG KONG, CHINA -- (Marketwired) -- 08/02/16 -- Hutchison China Meditech Limited (NASDAQ: HCM)Nasdaq: HCMHutchison China MediTech Limited ("Chi-Med") Reports Interim Results for the Six Months Ended June 30, 2016, Provides 2016 Financial Guidance and Updates Shareholders on Key Clinical ProgramsGroup revenue up 27% to $104.1 million (H1 2015: $94. Commercial Platform: Continued strong growth in cash flow and profit - representing a solid and stable financial base that underpins a significant portion of Chi-Med’s current market value.S.Simon To, Chairman of Chi-Med, said: "Chi-Med has once again made very considerable progress at both the operating and strategic levels.3 million (H1 2015: $12.2. Thyroid cancer: Initiated Phase II proof-of-concept study in patients with locally advanced or metastatic radioactive iodine-refractory differentiated thyroid cancer or medullary thyroid cancer in China.6 million (H1 2015: $229. FDA feedback received, now preparing to submit additional data; planning global rheumatoid arthritis Phase II study for 2017. 5.S. POST PERIOD EVENT: Amendment of Co-Development Agreement with AstraZeneca on Savolitinib global development plan:In order to accelerate savolitinib’s global development, as announced yesterday, Chi-Med and AstraZeneca agreed to amend the 2011 global licensing, co-development and commercialization agreement regarding savolitinib.1m) consolidated Prescription Drugs operating profit in H1 2016. Sales in our OTC drug joint venture were down marginally due to tight manufacturing capacity resulting from the move to new factory in Bozhou, Anhui province; despite this, our OTC drug joint venture’s portfolio of mature, market leading products, contributed 99% of our $8. BST (4:00 p.b. Consumer Health business stable despite over-the-counter ("OTC") drug capacity constraints - consolidated sales up 44% to $14. Expect to receive about $70 million second installment of the total approximately $114 million land compensation and subsidies from the Shanghai government, leading to an estimated one-time gain to the Chi-Med Group of over $35 million in Q4 2016.9m) and net loss attributable to Chi-Med of $13.5 million (H1 2015: $82.9m), reflecting a sharp increase in clinical investment.8 million (H1 2015: $103. EDT. For all dial-in numbers please use conference ID "Chi-Med".5% to 14.3 million (H1 2015: $55. Total net income attributable to Chi-Med from our Commercial Platform up 12% to $22.4m); and total sales of non-consolidated Prescription Drugs joint venture up 22% to $126. Commercial Platform - Total consolidated sales up 48% to $82.1m); and total sales of non-consolidated Consumer Health joint venture down 2% to $122. EDTLondon: Tuesday, August 2, 2016: Chi-Med (AIM/NASDAQ: HCM), the China-based biopharmaceutical company focused on discovering and developing targeted therapies for oncology and immunological diseases for the global market, today announces its unaudited financial results for the six months ended June 30, 2016. Based MediaEnquiriesBrad Miles, BMC +1 (917) 570 7340 bmiles@bmccommunications.6 million (H1 2015: $45.5 million at Group level as of June 30, 2016, which includes cash and cash equivalents, short-term investments and unutilized bank facilities. Jeeyun Lee of Samsung Medical Center in April 2016 at the American Association of Cancer Research meeting. Theliatinib: EGFR inhibitor, over five times more potent than Tarceva® (erlotinib), with potential in patients with solid tumors presenting EGFR gene amplification: Esophageal cancer/Head and Neck: Phase I dose escalation study ongoing in China; target to start Phase Ib proof-of-concept studies by the end of 2016. Hematological cancer: Granted China DC Motors 48V Suppliers https://www.lbdcmotor.com/product/dc-motor-48v/ China FDA Phase I to Phase III clinical trial application clearance in H1 2016 - target to start China Phase I dose escalation in patients with hematologic malignancies in H2 2016; Australia Phase I dose escalation currently in second dose cohort (200mg) and expected to complete in H1 2017; U and net income attributable to Chi-Med of $0.carlisle@cdrconsultancy.S. Its Innovation Platform, Hutchison MediPharma Limited, focuses on discovering and developing innovative therapeutics in oncology and autoimmune diseases for the global market. Strengthened cash position: Available cash resources of $197.m. Initiated global Phase Ib dose finding study of savolitinib in combination with anti-programmed death-1 receptor ligand ("PD-L1") antibody, durvalumab, in clear cell renal cell carcinoma ("ccRCC") patients.1m) consolidated Consumer Health operating profit in H1 2016. 2. Significant property-related payment expected to come in H2 2016. Gastric Cancer: a.5 billion botanical coronary artery disease prescription drug market, full patent protection through 2029; H1 2016 sales up 16% to $110. Colorectal cancer (third-line or above): Completed enrollment of a Phase III study, named FRESCO, to test fruquintinib as a monotherapy among third-line metastatic colorectal cancer patients in China; top-line Phase III data expected to be reported in early 2017; plan to submit the China NDA, subject to positive FRESCO outcome, by mid-2017;2.Consolidated revenue of $22. NSCLC (third-line): Began enrolling a Phase III study, named FALUCA, to test fruquintinib in third-line NSCLC patients in China, in late 2015 - now over 30 clinical centers are operational; expect to complete enrollment in H1 2017; top-line Phase III data expected to be reported in late 2017; plan to submit China NDA, subject to positive FALUCA outcome, during H1 2018.1 million (H1 2015: $19.Post-period Event: Amendment of collaboration with AstraZeneca AB (publ) ("AstraZeneca") - Chi-Med investing $50 million, mainly over three years, to accelerate savolitinib global development in return for 5% point increase in tiered royalty range.EnquiriesInvestor EnquiriesChristian Hogg, CEO +852 2121 8200International MediaEnquiriesAnthony Carlisle, +44 7973 611 888 anthony. NSCLC (first-line): Planning underway to start Phase Ib dose finding study of fruquintinib in combination with Iressa® in first-line EGFR-mutant NSCLC patients in China in late 2016.S.b. Gastric cancer (second-line): Completed dose finding stage of fruquintinib Phase Ib study in combination with Taxotere® (paclitaxel). We now have multiple shots at success with four pivotal studies underway today, and three more likely to initiate by H1 2017, on a diversified group of drug candidates.5 million (H1 2015: $82.ukCitigate Dewe (Mobile)RogersonPanmure Gordon (UK)LimitedRichard Gray / +44 (20) 7886 2500Andrew PottsAbout Chi-MedChi-Med is an innovative China-based biopharmaceutical company which researches, develops, manufactures and sells pharmaceuticals and healthcare products.Prescription Drugs business performing very well - consolidated sales up 49% to $67.S. Its Commercial Platform manufactures, markets, and distributes prescription drugs and consumer health products in China. We have also made great progress in the clinic on sulfatinib, epitinib, HMPL-523, HMPL-689 and theliatinib, all of which are also potential global first-in-class or best-in-class drug candidates. Potential global first-in-class spleen tyrosine kinase ("Syk") inhibitor - major potential in immunology and oncology: 1.HMPL-689: Potential global best-in-class, highly selective phosphoinositide 3-kinase delta ("PI3Kδ") inhibitor, which is over five times more potent than Zydelig® (idelalisib):Hematological cancer: Initiated Phase I study in healthy volunteers in Australia in H1 2016, now in fifth cohort and expected to complete Phase I dose escalation in H2 2016; plan to start Phase I dose escalation in patients with hematologic malignancies in Australia in H1 2017.8m).6m) mainly resulting from solid progress on Seroquel®.Savolitinib: Potential global first-in-class mesenchymal epithelial transition factor ("c-Met") inhibitor currently in 12 main clinical studies worldwide in multiple tumor types including kidney, lung and gastric cancers as a monotherapy and in combination with other targeted and immunotherapy agents:1.9 million. Initiated global Phase IIb study of savolitinib in combination with Tagrisso® (osimertinib) in second-line NSCLC patients with epidermal growth factor receptor ("EGFR") mutations who have failed first-line EGFR tyrosine kinase inhibitor ("TKI") therapy and harbor c-Met gene amplification. Continue to enroll patients in Phase Ib expansion stage.2 million (H1 2015: $4.8m); Total net income attributable to Chi-Med from our Commercial Platform up 12% to $22. Completed end-of-Phase II meetings with U. EXPECTED MAJOR NEAR-TERM CATALYSTS: We target to publish data on four drug candidates in five Phase Ib-III studies before the end of Q1 2017, including:Savolitinib Phase II data in PRCC patients; Epitinib Phase Ib data in NSCLC patients with brain metastasis; Fruquintinib Phase II data in third-line NSCLC patients; Sulfatinib Phase II data in pancreatic and extra-pancreatic NET patients; and Fruquintinib Phase III top-line data in third-line or above colorectal cancer patients. Net income attributable to Chi-Med of $0.3. After total aggregate sales of savolitinib have reached $5 billion, the royalty will step down over a two year period, to an ongoing royalty rate of 10. Initiated U. Solid performance despite the weakening of the Chinese renminbi ("RMB") over the last year which reduced both our top- and bottom-line growth rates, during the first half of 2016, by -6% in U.S.Once again, our Commercial Platform has generated increased cash flows helping fund our Innovation Platform activities as well as providing a first-class marketing and distribution channel in China for our drug candidates, if they are approved.S. BST U. Each is expected to read-out over the next three years. The results of these pivotal studies will emerge during 2017-2019, and we believe that if they prove successful, substantial benefits can be created for patients and shareholders alike.