Hutchison China MediTech Limited (LON:HCM, NASDAQ:HCM) said its fruquintinib capsules have been granted approval for drug registration by the National Medical Products Administration of China.
The capsules are for the treatment of metastatic colorectal cancer (CRC) patients and will be marketed in China under the brand name Elunate.
READ: Hutchison Chi-Med expects first drug launch by year end
"Today's approval is a major achievement for Chi-Med," said Simon To, the chairman of Chi-Med.
"Elunate is the first home-grown, China-discovered and developed drug we are aware of in an oncology indication to be unconditionally approved through a randomised clinical trial in China," he added.
Shares in Chi-Med were up 200p to 4,710p on the news.