[Edaily Reporter NA EUN-KYUNG ] HanmiPharm(128940)announced on the 28th that it recorded consolidated revenue of 467.2 billion won and operating profit of 131.1 billion won for the second quarter of this year. Compared to the same period last year, revenue increased by 29.3% and operating profit rose by 116.9%. Net income rose 95.5% to 84.1 billion won. The company invested 60.3 billion won in research and development (R&D), equivalent to 12.9% of revenue.

Cumulative revenue for the first half of the year was 860.2 billion won, and operating profit was 184.7 billion won, representing increases of 14.4% and 54.6%, respectively, compared to the same period last year.

These results are attributed to the growth of key specialty pharmaceuticals, such as the dyslipidemia treatment “Rosujet,” as well as the inclusion of the technology transfer payment received from global pharmaceutical company Eli Lilly for the obesity treatment “Sonepeglutide.” The domestic pharmaceutical business also continued its growth momentum by expanding sales of products from global pharmaceutical companies through co-promotion. Co-promotion is a sales model in which pharmaceutical companies enter into agreements to jointly market each other’s drugs.

Pharmaceutical sales were also robust. Outpatient prescription sales (based on UBIST) for the first half of this year totaled 561.6 billion won. Second-quarter outpatient prescription sales for the flagship product Rosujet reached 61.6 billion won, a 10.1% increase year-over-year, while the Amozaltan family and Esomezol family recorded prescription sales of 37.0 billion won and 14.6 billion won, respectively.

Beijing HanmiPharm, the company’s local subsidiary in China, recorded second-quarter sales of 60.7 billion won. Sales and operating profit declined due to the seasonal off-peak period and the impact of China’s centralized drug procurement system. The centralized procurement system is a policy implemented by the Chinese government to lower drug prices through large-scale tenders, and it is cited as a factor affecting the profitability of local pharmaceutical companies.

Hanmi Fine Chemicals, the active pharmaceutical ingredient (API) subsidiary, posted sales of 24 billion won and a 76.7% year-over-year increase in operating profit, driven by increased exports to Japan and an expansion of new contract development and manufacturing (CDMO) orders. Active pharmaceutical ingredients (APIs) are key components used in the manufacture of finished pharmaceutical products, while CDMO refers to the business of undertaking contract work ranging from drug development to production.

HanmiPharm is developing a pipeline of over 30 new drugs in the fields of obesity and metabolic diseases, rare diseases, and oncology. The company is preparing to commercialize “Epfeglenatide,” a GLP-1-based obesity treatment, within the year. Additionally, its triple-action obesity treatment (HM15275) is currently in Phase 2 clinical trials in the U.S., and its muscle-building obesity treatment (HM17321) is in Phase 1 clinical trials in the U.S.

Hwang Sang-yeon, CEO of HanmiPharm, stated, “Even amid an uncertain business environment, we are focusing on innovation to secure future growth engines based on our solid fundamentals,” adding, “We will continue to enhance our corporate value through sustained innovation and responsible management.”