A fruitful 2024 on the way

M N 1 Mar 2024 CMB International Global Markets | Equity Research | Company Update Hutchmed (13 HK) A fruitful 2024 on the way Including US$312mn upfront and milestone payments from Takeda, HCM’s consolidated Target Price HK$34.31 revenues from oncology/immunology reached US$529mn in FY23 (vs US$164mn in (Previous TP HK$36.67) FY22), close to the upper limit of its US$450-550mn guidance. The in-market product Up/Downside 41.8% sales increased 28% YoY (35% at CER) to US$214mn in FY23, among which sales of Cu ...