According to the research report released by Bocom Intl, they maintain the 'buy' rating for Hutchmed (China) (00013) and the target price is HKD 40.

The report states that the catalysts in the second half of 2024 include the global sales of fruquintinib and the domestic approval progress of 2L gastric cancer based on the FRUTIGA study; the global filing of savolitinib based on the SAVANNAH study, and the domestic approval of surufatinib.

The bank pointed out that the efficacy of Savolitinib combined with PD-1 first-line treatment for pancreatic cancer is encouraging. The IIT data released at the ASCO GI conference shows that the ORR of Savolitinib combined with AS therapy and Carilizumab for 1L PDAC treatment reached 50%, and the mPFS/mOS were 9 and 13.3 months, respectively, which is significantly better than existing therapies.