Chi-Med Not Your Typical 'Binary Biotech' Says CEO

Chi-Med may be pressing ahead with a series of late-stage oncology drug trials, but it is anything but a one-trick pony biotech company.

Author:: Gregg Greenberg
Publish date:: Oct 6, 2016 4:50 PM EDT

Chi-Med (HCM) - Get Report may be pressing ahead with a series of late-stage oncology drug trials, but it is anything but a one-trick pony biotech company. "We have been operating for 16 years and we have a cash generative commercial business in China to help fund innovation," said Chi-Med's CEO Christian Hogg. "We are not a binary biotech." Chi-Med is focused on developing drugs to treat cancer and auto-immune disease with seven drug candidates in 25 active clinical trials. It also has an enormous commercial business in China selling over the counter drugs. Chi-Med is partnering with the likes of AstraZeneca (AZN) - Get Report , Eli Lilly (LLY) - Get Report and Nestle Health Sciences to provide finance and expertise to support the development of its business. At the end of the first half of the year, Chi-Med had received $118.5 million in income from its partners.