Chinese operations expected to boost Hanmi Pharm

[THE INVESTOR] NH Investment and Securities maintained Hanmi Pharm’s target price at 1.1 million won (US$944) on June 20, saying that the pharma firm’s Chinese branch is expected to continue expanding.

Hanmi Pharm opened at 660,000 won on the stock market June 20, up 10,000 won from June 17. 

According to NH Investment and Securities, Beijing Hanmi has recorded an average annual growth rate of 21.2 percent since 2006.

Saying that Beijing Hanmi is expected to apply for clinical trials and licenses for up to 70 products, the Korean brokerage said it is likely to receive approval for new products from 2018.

By Choi He-suk (cheesuk@heraldcorp.com)