Director dealings: Chi-Med director's wife bags a bargain?

9th Aug 2016 15:41

(ShareCast News) - The wife of Hutchison China MediTech (Chi-Med) director Christopher Nash has swooped into the market to pick up a few of the company's shares a after hearing good reports on the China-based biopharma outfit's recent interim results and bulging drug pipeline. Mrs Nash, wife of the company's senior independent non-executive director, snapped up 3,120 shares at the price of 1,900p and 42 at 1,899p last week, Chi-Med announced on Tuesday, to inflate the Nash household's ownership to 39,596 of the company's shares.A week ago, Chi-Med's interim results showed group revenue up 27% to $104.5m but net income down to $0.5m due to a sharp increase in clinical investment as it funds the progress of seven drug candidates in 25 clinical trials, of which four are pivotal Phase III studies.Through the coming three quarters, Chi-Med plans to publish proof-of-concept or pivotal trial data on four drug candidates.Also, last Monday Chi-Med and FTSE 100 giant AstraZeneca announced an amendment to their 2011 global licensing, co-development, and commercialisation agreement regarding Chi-Med's savolitinib cancer treatment, which is currently undergoing trials for non-small cell lung cancer, kidney, gastric and colorectal cancers. Chi-Med has now agreed contribute up to $50m over three years to the joint development costs of the global pivotal Phase III study in the c-Met gene affect on papillary renal cell carcinoma (PRCC).Subject to approval in the PRCC indication, Chi-Med will receive a 5 percentage point increase in the global - excluding China - tiered royalty rate payable on savolitinib sales across all indications.Top Director BuysHutchison China Meditech Ltd (HCM)Director name: Nash,ChristopherAmount purchased: 3,120 @ 1,900.00pValue: £59,280.00Vitec Group (VTC)Director name: Thomson,CarolineAmount purchased: 8,407 @ 590.00pValue: £49,601.30Vitec Group (VTC)Director name: Rollins,MarkAmount purchased: 5,100 @ 590.00pValue: £30,090.00Verona Pharma (VRP)Director name: Jan-Anders Karlsson,SvenAmount purchased: 600,000 @ 3.25pValue: £19,494.00Elegant Hotels Group (EHG)Director name: Adams,DavidAmount purchased: 6,000 @ 63.50pValue: £3,810.00Hutchison China Meditech Ltd (HCM)Director name: Nash,ChristopherAmount purchased: 42 @ 1,899.00pValue: £797.58Mj Gleeson (GLE)Director name: Allanson ,Stefan Amount purchased: 38 @ 509.75pValue: £193.70Rolls-royce Holdings (RR.)Director name: Smith,DavidAmount purchased: 20 @ 764.00pValue: £152.80Countrywide (CWD)Director name: Platt,Alison Amount purchased: 61 @ 248.50pValue: £151.58Countrywide (CWD)Director name: Clarke,JimAmount purchased: 60 @ 248.50pValue: £149.10Rolls-royce Holdings (RR.)Director name: Smith,Colin PAmount purchased: 17 @ 764.00pValue: £129.88Interserve (IRV)Director name: Haywood,TimAmount purchased: 40 @ 312.00pValue: £124.80Interserve (IRV)Director name: Melizan,BruceAmount purchased: 40 @ 312.00pValue: £124.80Top Director SellsDignity (DTY)Director name: Davies,AndrewAmount sold: 32,405 @ 2,640.92pValue: £855,788.97Dignity (DTY)Director name: Portman,RichardAmount sold: 25,929 @ 2,680.00pValue: £694,897.18Dignity (DTY)Director name: Whittern,SteveAmount sold: 21,301 @ 2,634.00pValue: £561,068.34Nichols (NICL)Director name: Millard ,Marnie Amount sold: 8,254 @ 1,400.00pValue: £115,556.00