Kiwoom Securities: Hanmi Pharmaceutical Secures Another $2.5 Billion Tech Export Deal, Raises Target Price to $730,000 Won

Kiwoom Securities has significantly boosted its target price for Hanmi Pharmaceutical, raising it by 25.9% from 580,000 won to 730,000 won. This upward revision reflects the company's renewed demonstration of strong research and development (R&D) capabilities, highlighted by a major technology export deal with Genentech, a member of the Roche Group. This agreement was announced just three months after Hanmi Pharmaceutical secured a similar large-scale technology transfer deal with Eli Lilly.

Analysts at Kiwoom Securities view the recent deal with Genentech as a testament to Hanmi's sustained R&D prowess. The company has successfully leveraged its innovative pipeline to attract significant international investment and partnerships. The brokerage firm has reiterated its 'buy' recommendation for Hanmi Pharmaceutical's stock, signaling confidence in its future growth prospects.

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Kiwoom Securities raised Hanmi Pharmaceutical's target price by 25.9% to 730,000 won.

The previous closing price for Hanmi Pharmaceutical shares was 540,000 won. The company's ability to secure two substantial technology export agreements within a short period underscores its strategic success in monetizing its drug development efforts and solidifies its position in the global pharmaceutical market.

Heo Hye-min, a researcher at Kiwoom Securities, detailed these points in a report issued on August 25. The report likely elaborates on the specific terms of the Genentech deal and its potential impact on Hanmi Pharmaceutical's revenue and market valuation, further justifying the increased target price and the continued 'buy' rating.

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The company proved its R&D competitiveness again by signing a large-scale technology transfer contract with Roche Group's Genentech just three months after signing with Eli Lilly in June.