Hanmi Pharmaceutical Q2 Operating Profit Doubles to 124.1 Billion Won, Boosted by Lilly Upfront Payment

According to Yonhapinfomax consensus, Hanmi Pharmaceutical is expected to report second-quarter operating profit of 124.1 billion won on July 15, surging 105.46% year-over-year. The sharp increase is primarily driven by a 112.9 billion won upfront payment from Eli Lilly for technology licensing of semaglutide candidate for short bowel syndrome treatment.

Excluding the Lilly upfront payment, underlying Q2 operating profit is forecast at 42.5 billion won, falling short of consensus expectations, with the company's Beijing-based subsidiary facing margin pressure from China's centralized drug procurement system. Market focus is shifting to the second half, where Hanmi plans to launch epeglenataide, Korea's first domestically developed obesity drug, and expects Phase 2b results for MASH treatment epinetaceptaide to be presented at the American Association for the Study of Liver Diseases conference in November.