Hutchison China Submits New Cancer Drug Application

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Hutchison China Meditech Ltd. (HCM.LN) said Monday that it has submitted a new drug application to China Food and Drug Administration for cancer treatment drug fruquintinib.

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The pharmaceutical company added that the submission has triggered a milestone payment of 30.8 million Chinese yuan ($4.5 million) from Lilly (LLY).

Hutchison China Meditech is majority owned by CK Hutchison Holdings Ltd (0001.HK).

Write to Tapan Panchal at tapan.panchal@wsj.com

(END) Dow Jones Newswires

June 12, 2017 02:42 ET (06:42 GMT)