Hutchmed shares rise after savolitinib trial shows survival benefit
Hutchmed (China) shares rose about 4% after reporting positive top-line results from a late-stage global Phase III trial of its lung cancer drug savolitinib. The broker said the study was the first Phase III to show a significant survival benefit for this patient group and estimated ex-China royalties could reach $70–$100 million annually before accounting for separate, higher-value China rights.