"Hanmi Pharmaceutical, Growing Mid- to Long-Term Opportunities in the Obesity Market" [Click e-Stock]

Strong Phase 3 Results for New Obesity Drug
Expected Market Entry in 2027... 10% Share Anticipated

Hanmi Pharmaceutical is being analyzed as the most promising investment destination in the mid- to long-term obesity market. The company is drawing attention due to growing interest in the "muscle preservation" effect.

On October 28, NH Investment & Securities raised its target price for Hanmi Pharmaceutical by 18.2% to 520,000 won, while maintaining its "Buy" rating. The previous day's closing price was 428,000 won.

The company explained that it raised Hanmi's operating value from 3.6 trillion won to 4.7 trillion won following the successful announcement of domestic Phase 3 obesity trial results. The previous day, Hanmi Pharmaceutical announced successful Phase 3 data for efeglenatide (week 40). The results showed a weight loss rate similar to that of the competing drug Wegovy in the East Asian STEP7 clinical trial (week 44), while demonstrating superior safety (incidence of GI side effects at 50% compared to Wegovy STEP7's 68%).

Currently, the domestic obesity market is dominated by Novo Nordisk's Wegovy and Eli Lilly's Mounjaro. The market is growing at an annual rate of 20%, and is projected to reach 1 trillion won by 2027. NH Investment & Securities forecasts that efeglenatide will become the first domestically developed obesity drug to receive approval in the second half of next year, entering the market as the third player. By 2027, it is expected to achieve 100 billion won in sales and a 10% market share.

Looking ahead one to two years, "muscle preservation" is expected to become a key issue in the global obesity market. Attention is focused on the possibility of announcing Phase 1 results and technology export achievements for Hanmi's new drug LA-UCN2 (muscle preservation) by the end of next year.

Han Seungyeon, a researcher at NH Investment & Securities, stated, "Hanmi Pharmaceutical is providing the clearest direction from a big-picture perspective on obesity," adding, "We expect the announcement of Phase 1 results for the new drug by the end of next year, as well as technology export achievements to major global pharmaceutical companies specializing in obesity."

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