Chi-Med

Hutchison China MediTech, or Chi-Med, is a biotech business with an unconventional structure. Hutchison Whampoa, which was founded in 2000 and later integrated with Hong Kong billionaire Li Ka-shing's conglomerate CK Hutchison, established what it calls a "commercial platform" from the start.

The company has various joint ventures with established Chinese pharmaceutical companies concentrating on prescription pharmaceuticals and consumer health goods, as well as third-party distribution and marketing services. Christian Hogg, the company's first employee, formerly worked for consumer giant Procter & Gamble.

Despite the fact that Chi-Med handles certain operations, the products are mostly contributed by its JV partners or sold on behalf of other firms, with many of them not consolidated by Chi-Med in its financial reporting. The commercial platform generated $189 million in revenue in 2019.

Elunate (fruquintinib), a VEGFR inhibitor developed by Chi-Med, was approved in China in 2018 to treat colorectal cancer patients who had failed at least two prior treatments. It was the company's first innovative pharmaceutical, as well as the first China-made medicine for a major cancer type to complete the whole R&D and commercialization process in China.

Headquarters: Shanghai, China

CEO: Christian Hogg

Founded: 2000

Website: hutch-med.com