HK's Hutchmed jumps as EMA accepts drug application for tumor treatment

Reuters2021-07-16

** Shares of oncology and immunology drug developer and maker Hutchmed (China) Ltd surge 12.2% to HK$67.95, on course for the best day since listing on June 30

** Stock hit the highest since July 2, and on track for second session of gains

** CK Hutchison backed biopharmaceutical firm says the European Medicines Agency (EMA) has accepted its marketing authorization application for surufatinib for the treatment of pancreatic and extra-pancreatic neuroendocrine tumors

** Says the EMA's validation confirms that the submission is sufficiently complete and it is ready to commence the formal review process, and the company hopes to soon be able to bring the treatment to patients across the U.S. and Europe

** The Hong Kong Hang Seng Commerce & Industry Index gains 0.3%, while the healthcare index slips 0.6%

** The benchmark Hang Seng Index climbs 0.3%

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