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Chi-Med forecasts higher losses in FY'18

Hutchison China MediTech Ltd. reported a loss of $26.7 million, or 43 cents per share, for 2017.

Revenues totaled $241.2 million, up from $216.1 million a year earlier.

The Hong Kong-based biopharmaceutical company, which had reported a 2016 profit of $11.7 million, or 20 cents per share, expects its losses to persist in 2018.

Chi-Med expects a net loss of between $19 million and $52 million in 2018, higher than the previous forecast of $13 million to $28 million.