LONDON – 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).
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(END) Dow Jones Newswires
June 12, 2017 02:42 ET (06:42 GMT)