LONDON--Hutchison China Meditech Ltd. (HCM.LN) said Monday that it has submitted a new drug application to China Food and Drug Administration for cancer treatment drug fruquintinib.

The pharmaceutical company added that the submission has triggered a milestone payment of 30.8 million Chinese yuan ($4.5 million) from Lilly (LLY).

Hutchison China Meditech is majority owned by CK Hutchison Holdings Ltd (0001.HK).

Write to Tapan Panchal at tapan.panchal@wsj.com

(END) Dow Jones Newswires

June 12, 2017 02:42 ET (06:42 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
Eli Lilly (NYSE:LLY)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Eli Lilly Charts.
Eli Lilly (NYSE:LLY)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Eli Lilly Charts.