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IN BRIEF: China grants Hutchmed's savolitinib breakthrough therapy tag

29th Aug 2023 09:30

Hutchmed (China) Ltd - Hong Kong-based developer of treatments for cancer and immunological diseases - Wins 'breakthrough therapy designation' in China for its gastric cancer treatment, savolitinib. The BTD is granted by the National Medical Products Administration. It is for the treatment of locally advanced or metastatic gastric cancer or gastroesophageal junction adenocarcinoma patients with mesenchymal epithelial transition factor amplification who have failed at least two lines of standard therapies. Hutchmed notes that MET-driven gastric cancer has a poor prognosis, and China grants a BTD to new drugs that treat life-threatening diseases for which there are no effective treatment options.

Current stock price: 237.31 pence, up 6.2% in London early Tuesday

12-month change: up 14%

By Tom Waite, Alliance News editor

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