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Hutchison China Meditech -NÃ©stle deal for HMPL-004 drug

January 2013

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HCM's news that its R&D arm has finally partnered with NestlÃ© Health Science seems to have been largely ignored by the market because it wasn't the usual licencing route. Nestle and HCM are forming a new 50:50 joint venture into which NestlÃ© is injecting an undisclosed amount of cash whilst HCM is injecting a library of 50,000 plant extracts held by it. The jv will fund the Phase III trials for HCM's lead compound, HMPL-004 for treatment of ulcerative colitis and Chron's disease. A 2,700 patient study will start shortly in the US and Europe. Panmure says it might have cost US$150m-US$200m for the trials indicating the amount Nestle is committing. The broker suggests a Â£6 sum of the parts. Strong h ...

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