[Featured Stock] Hanmi Pharm Falls Over 7% on News of Returning Sanofi Diabetes Drug Candidate

[Asia Economy Reporter Minji Lee] Hanmi Pharm experienced a decline of over 7% after news broke that Sanofi had notified the return of rights to the diabetes drug candidate Epeglenatide, which Hanmi Pharm had licensed out.

At 9:20 a.m. on the 14th, Hanmi Pharm was trading at 257,500 KRW, down 7.53% from the previous session on the KOSPI market.

Before the market opened that day, Hanmi Pharm announced that the multinational pharmaceutical company Sanofi had expressed its intention to return the rights to the diabetes drug Epeglenatide.

The company stated, "According to the contract, the final confirmation of the rights return will be made after a 120-day consultation period," adding, "Even after the rights are returned, the upfront payment of 200 million euros (approximately 264.3 billion KRW) already received will not be refunded."

This content was produced with the assistance of AI translation services.