[Click eStock] "Hanmi Pharm, Strong Earnings Boost 4Q New Drug Approval Hopes... Target Price Up"

[Asia Economy Reporter Kwon Jaehee] Hana Securities maintained its 'Buy' rating on Hanmi Pharm on the 5th and slightly raised the target price from 350,000 KRW to 360,000 KRW.

Hanmi Pharm's consolidated sales for the second quarter of this year are expected to reach 307.3 billion KRW, with an operating profit of 25.2 billion KRW. This represents a 10% and 58.7% increase respectively compared to the same period last year, surpassing the consensus sales of 302.6 billion KRW and operating profit of 23.3 billion KRW. Beijing Hanmi is expected to drive strong performance despite the off-season by recording sales of 73.1 billion KRW, supported by a favorable exchange rate effect (an average of about 191 KRW per yuan in Q2) and growth of existing products. Hanmi Pharm's standalone sales are estimated at 234.4 billion KRW, driven by solid performance of core products Rosuzet and the Amozaltan family, as well as sales growth in some respiratory products.

Based on this, Hanmi Pharm is expected to achieve solid results this year as well, with projected sales of 1.287 trillion KRW and operating profit of 143.1 billion KRW. Furthermore, expectations are likely to rise as the results of Hanmi Pharm's major candidate drugs become visible from the second half of the year. The long-acting neutropenia treatment candidate 'Rolontis' and the lung cancer new drug 'poziotinib' have PDUFA (Prescription Drug User Fee Act) dates on September 9 and November 24, respectively, with approval decisions expected in the fourth quarter.

Jae-kyung Park, a researcher at Hana Securities, analyzed, "If the approvals for Rolontis and poziotinib are decided in the fourth quarter, sales can be confirmed from next year. Although the competitive environment has changed compared to the early development stage, stock price movements reflecting sales are expected after new drug approval."

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