Chi-Med happy with drug tests

HUTCHISON China Meditech (Chi-Med), the Hong Kong-based drug and toiletries firm led by Scot Christian Hogg, yesterday announced "encouraging" early results from the stage two clinical trial of its top drug.

HMPL-004 is a trial treatment for Crohn's disease and ulcerative colitis (UC), an inflammation of the intestine. The drug is derived from a Chinese herb.

Chi-Med added that its UC trial is near its patient recruitment target and is expected to complete and report results before the end of the year.

Analysts welcomed yesterday's statement, with shares in Aim-listed Chi-Med closing up 12.5 per cent or 8.5p at 76.5p.