Hanmi Pharm in spotlight as Korea's 1st obesity drug nears launch

Hanmi Pharmaceutical is gaining attention as it prepares to launch Korea’s first glucagon-like peptide-1 (GLP-1)-based obesity drug, Eppe, while also signing a licensing deal worth up to $2.3 billion for a separate obesity drug candidate.

In recent weeks, a series of analysts at domestic brokerages have raised their price target on Hanmi Pharm, citing the company’s potential in obesity drugs. “We expect Hanmi Pharm’s corporate value to increase with the upcoming domestic approval and launch of efpeglenatide (Eppe), as well as the release of Phase 1 trial results for HM17321,” DS Securities analyst Kim Min-jeong said in a report on Tuesday, raising the company’s price target to 720,000 won ($519) from 680,000 won.

Samsung Securities on Tuesday also raised its price target on Hanmi Pharm to 610,000 won, up from 500,000 won, citing the potential of HM17321.

Eppe and HM17321 are key drugs and drug candidates in Hanmi Pharm’s obesity treatment pipeline.

Eppe is a long-acting GLP-1 obesity treatment based on Lapscovery, Hanmi Pharm’s own platform technology.

The drug was initial