17th Apr 2020 13:19
(Alliance News) - Hutchison China Meditech Ltd on Friday said the US Food & Drug Administration
granted fast track designation to its Surufatinib for treatment of neuroendocrine cancer tumours.
Neuroendocrine tumours form in cells which interact with the body's nervous system or hormone glands.
Shares in Hutchison China, a biopharmaceutical firm, were 11% higher at 331.55 pence each in London on Friday afternoon.
Fast track designation ramps up the development of a drug to fill an unmet need.
Hutchison China said: "Programmes that receive fast track designation are entitled to more frequent interactions with the US FDA on drug development plan, as well as eligibility for accelerated approval, priority review, and rolling review."
By Eric Cunha; [email protected]
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