[Market Focus] Hanmi Pharmaceutical Soars Over 9% on News of Obesity Drug Supply to Mexico

Hanmi Pharmaceutical's stock price surged significantly following news that the company will supply obesity medications and other products to Mexico.

As of 3:07 p.m. on January 28, Hanmi Pharmaceutical was trading at 521,500 won, up 9.79% from the previous trading day. At one point during the session, the price rose to as high as 550,000 won.

On this day, Hanmi Pharmaceutical announced that it had signed an exclusive distribution agreement with Mexican pharmaceutical company Sanfer for the GLP-1 obesity treatment efeglenatide and the diabetes combination drug Daparon Family.

Under the agreement, Hanmi Pharmaceutical will supply finished products of efeglenatide and Daparon Family (Daparon tablets and Daparon Duo extended-release tablets), while Sanfer will be responsible for obtaining regulatory approval, marketing, distribution, and sales within Mexico.

Mexico is known as a country with a high obesity rate, with a prevalence of 36.86%. The diabetes prevalence rate is also 16.4%.