LONDON--Hutchison China Meditech Ltd. (HCM.LN) said Thursday its subsidiary Hutchison Whampoa Sinopharm Pharmaceuticals (Shanghai) Company Ltd., has entered into an exclusive agreement with AstraZeneca (Wuxi) Trading Co., Ltd. to distribute and market Seroquel(R), an antipsychotic prescription drug owned by AstraZeneca PLC (AZN.LN), in China.

Chi-Med, a pharmaceutical and healthcare company based primarily in China, didn't provide any financial details of the agreement.

Hutchison China shares at 0950 GMT up 60 pence, or 4.26%, at 1470 pence valuing the company at 780 million pounds ($1.18 billion).

-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

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