Hanmi Pharmaceutical Announces a 117% Surge in Q2 Operating Profit!

Hello everyone! Today, we're thrilled to share the incredible news about Hanmi Pharmaceutical's significant improvement in its second-quarter performance. This year, in Q2, Hanmi Pharmaceutical achieved a substantial leap in its financial results, largely thanks to a technology transfer agreement with Eli Lilly. Having already secured the top spot among major traditional pharmaceutical companies in Korea last year with an annual operating profit of 257.8 billion KRW, all eyes are on whether Hanmi Pharmaceutical can maintain its leading position this year.

Q2 Performance: Revenue Up 29.3%

Hanmi Pharmaceutical announced that in the second quarter, on a consolidated basis, they recorded revenue of 467.2 billion KRW and an operating profit of 131.1 billion KRW. This represents a 29.3% increase in revenue and a 116.9% increase in operating profit compared to the same period last year. Notably, even when compared to the first quarter's performance, revenue grew by 18.9% and operating profit by a remarkable 144.6%. This outstanding growth is primarily attributed to the upfront payment received for the short bowel syndrome treatment candidate, Liraglutide.

Liraglutide: A Beacon of Hope for Short Bowel Syndrome Treatment

Liraglutide is a long-acting GLP-2 analog currently under development as a treatment for short bowel syndrome. Short bowel syndrome is a condition where the body cannot properly absorb nutrients and fluids due to the removal or damage of the small intestine. Liraglutide works by enhancing the absorptive function for patients suffering from this condition. Through the agreement with Eli Lilly on June 1st, Hanmi Pharmaceutical received a technology transfer fee of 75 million USD.

Operating Profit Margin Significantly Improved, Boosting Hopes for the Second Half

The operating profit margin for the second quarter of this year stands at 28.1%, a significant improvement from 16.7% in the same period last year and 13.6% in the previous quarter. This achievement is attributed to the recognition of upfront payments from high-margin technology fees. Hanmi Pharmaceutical's cumulative results for the first half of the year show revenue of 860.2 billion KRW and operating profit of 184.7 billion KRW, marking a 14.4% and 54.6% growth, respectively, compared to the same period last year.

• First Half Operating Profit: 184.7 billion KRW
• Previous Year's Annual Operating Profit: 257.8 billion KRW
• Second Half Target: Additional operating profit exceeding 73.1 billion KRW

Based on these achievements, Hanmi Pharmaceutical anticipates reaching its highest revenue in the company's history this year. In the latter half of the year, the performance of its core business and the approval and launch schedule for the obesity treatment drug Epeglenaotide are expected to be key factors. Epeglenaotide is being prepared for commercialization within the year, with industry analysts projecting a possible domestic launch in the fourth quarter.

With Hanmi Pharmaceutical's continuous growth on the horizon, many are keenly watching to see how its future performance will unfold. Let's continue to follow and cheer for Hanmi Pharmaceutical's journey!