Hutchmed (china) forecasts its 2024 fiscal year revenue to be between $0.3 billion to $0.4 billion.
According to the report from Zhìtōng Cáijīng APP, CMB International maintained a 'buy' rating on Hutchmed (china) (00013). Considering the strong sales momentum of Fruquintinib in the USA, as well as its listing outside of China in the short term, it raised the target price from HKD 34.31 to HKD 35.61.
The report stated that the company's revenue from tumor and immune drugs reached USD 0.128 billion in the first half of the year, a year-on-year increase of 59.6%, including USD 43 million in revenue from fruquintinib sales outside of China. The comprehensive revenue of tumor and immune drugs, including R&D services and revenue from cooperation with Takeda Pharmaceutical, reached USD 0.169 billion in the first half of the year, accounting for 48% of the median of the fiscal year 2024 guidance range of USD 0.3 billion to USD 0.4 billion.
