2024-03-20 08:55:47 ET
Summary
- Hutchmed China is a biopharmaceutical company with a market capitalization of $3 billion.
- HCM's total revenue doubled to $838 million in 2023, driven by sales of the cancer drug FRUZAQLA.
- The company delivered a profit of $100.8 million in 2023 and has a strong cash position of over $880 million.
- FDA approval at the end of last year, and hopefully similar approvals from the EU and Japan will be a gamechanger for HCM.
Investment Thesis
When we started to cover HUTCHMED (China) Limited ( HCM ) back in February of 2023, it was based on our interest to diversify our portfolio with the inclusion of shares in a pharmaceutical, medical, or healthcare company.
Our introduction to HCM came all through our interest in CK Hutchison Holdings in Hong Kong ( OTCPK:CKHUY ), the conglomerate that holds about 38% of the shares in HCM....
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For further details see:
Hutchmed Is Turning Profitable