OCI Or No OCI, Hanmi Pharm (128940 KS) Will Continue to Roar on Strong Base Business and Pipeline

530 Views14 Mar 2024 09:30

Boomeranged on Thu, 4 Apr 2024 13:09

Hanmi Pharm has submitted phase 1 clinical trial application for its next-generation obesity drug candidate HM15275 in the U.S., with an aim to commercialize the drug by 2030. In another development OCI-Hanmi merger has been called off, thereby removing the legal uncertainties. Lim brothers are reportedly in talks with another PE firm. Long-term investors can accumulate Hamni Pharm shares.

SUMMARY

In 2023, Hanmi Pharm (128940 KS) reported 12% and 40% growth in revenue and operating profit, respectively, driven by double-digit revenue increase from Rosuzet and improving performance of China subsidiary.
In January, the company has enrolled first patient in phase 3 trial of type 2 diabetes/obesity drug candidate Efpeglenatide. The study is expected to complete in 2026.
Hanmi Science-OCI merger has hit a roadblock. Although merger with OCI will bring synergistic effect, Hanmi Pharm will continue to grow even if the merger does not happen.

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