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Hutchison China MediTech seeks regulatory approval for cancer drug

Hutchison China MediTech Ltd. filed an application with the China Food and Drug Administration, seeking approval for fruquintinib in patients with advanced colorectal cancer.

The application is supported by data from a successful phase 3 trial.

The submission also triggers a $4.5 million milestone payment from Eli Lilly & Co., which is co-developing the drug in China.