[Featured Stock] Hanmi Pharm Hits Upper Limit on Trillion-Won New Drug Technology Export

[Asia Economy Reporter Park Jihwan] Hanmi Pharm recorded the upper price limit following news of a technology export deal worth over 1 trillion won.

According to the Korea Exchange on the 5th, Hanmi Pharm closed trading on the KOSPI market at 360,500 won, up to the maximum price limit (29.91%). Hanmi Science, the largest shareholder of Hanmi Pharm, also rose to the maximum price limit (29.85%) on the same day.

Yuhan Corporation, which previously exported a similar therapeutic candidate, also saw a 15.73% increase as the value of the new drug was re-evaluated.

Earlier, after the market closed on the 4th, Hanmi Pharm announced that it had signed a technology transfer contract for a biopharmaceutical to treat non-alcoholic steatohepatitis (NASH) with global pharmaceutical company Merck Sharp & Dohme (MSD). The total technology export amount is $870 million (approximately 1.0392 trillion won). Milestones for clinical development, approval, and commercialization stages amount to a total of $860 million. Double-digit royalties based on net sales will be received separately.

Sun Minjung, a researcher at Hana Financial Investment, commented, "Merck appears to have entered into the contract after analyzing the results of Phase 2 clinical trials conducted by Janssen and confirming the potential as a NASH treatment," adding, "Hanmi Pharm's technology transfer confirmed that the process does not end even if the technology is returned."