BioCentury on BioBusiness, Strategy
AstraZeneca cancer deal validates Hutchison's in-house discovery in China
Met-ing the neighbors
By Michael Flanagan
Senior Writer
Published on Monday, January 23, 2012
AstraZeneca
plc's grassroots approach to business development in Asia has allowed
it to bring in a program from Hutchison
MediPharma Ltd. that was under the radar of analysts covering the
Chinese company. The deal to develop an inhibitor of c-Met receptor tyrosine
kinase also provides the first validation of the 10 years and almost $100
million the Chinese biotech has spent building its in-house discovery
operations.
Hutchison MediPharma was established in 2002 to screen Chinese
traditional medicines in search of pharmaceuticals. The company is a subsidiary
of U.K.-listed Hutchison
China MediTech Ltd. (Chi-Med), which itself is a unit of Hong
Kong-listed multinational conglomerate Hutchison
Whampoa Ltd.
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