[EQUITIES] ‘Hanmi Pharma to gain from strong pipeline’
[THE INVESTOR] Hanmi Pharmaceutical has turned to black in the fourth quarter last year and has a series of R&D projects in store this year, said Mirae Asset Daewoo on Jan. 10, maintaining a “buy” recommendation and 710,000 won (US$662.93) target price.
Its revenue hiked 32.4 percent on-year to 227.8 billion won and operating profit turned to black at 18.8 billion won, although the figures were lower than expected, said analyst Kim Tae-heui.
It is the most advanced developer of novel medicines among Korean pharma companies, and has a strong pipeline that raises expectations for this year, noted the analyst, adding that concerns over its key platform technology Labscovery have cleared and additional technology exports could be expected.
By Hwang You-mee (firstname.lastname@example.org)