Apr 03rd 2013 - Edison Investment Research today published a report on Hutchison China MediTech (HCM.L, LSE:HCM, LON:HCM) entitled "Progress Continues". In summary, the report says:
Solid performances in the China Healthcare operations highlight the strength of the investment case and underpin the valuation. However, it is developments in the MediPharma R&D unit that will increasingly be the focus of investor attention. Realising value from the land assets provides an additional fillip to cash flow and will help fund further expansion. We raise our valuation from £292m to £346m to reflect the progress achieved.
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