Hanmi Pharm Enters Licensing Agreement with Eli Lilly
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Source: NASDAQ.COM
- Licensing Agreement Signed: Hanmi Pharm has entered into a licensing agreement with Eli Lilly for the development, manufacturing, and commercialization of its biologic drug candidate Sonefpeglutide, which is expected to significantly enhance Hanmi's market position and revenue potential.
- Stock Price Surge: Following the announcement, Hanmi's shares surged 6.52% to 523,000 Korean Won, reflecting positive market expectations and increased investor confidence in the collaboration.
- Milestone Payment Potential: Under the agreement, Hanmi will receive an upfront payment of $75 million and may earn up to $1.185 billion in additional milestone payments related to clinical development, regulatory approval, and commercialization, greatly enhancing the company's financial flexibility.
- Global Development Rights: Eli Lilly will obtain exclusive rights to develop, manufacture, and commercialize Sonefpeglutide worldwide, while Hanmi focuses on the Korean market, a strategic division that will help both parties maximize their respective gains.
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Analyst Views on LLY
Wall Street analysts forecast LLY stock price to rise
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Current: 1064.150
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Current: 1064.150
Low
950.00
Averages
1192
High
1500
About LLY
Eli Lilly and Company is a medicine company, which discovers, develops, manufactures, and market products in a single business segment called human pharmaceutical products. The Company manufacture and distribute its products through facilities in the United States, including Puerto Rico, and in Europe and Asia. The Company’s products are sold in approximately 90 countries. Its Cardiometabolic Health products Basaglar; Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, and others; Humulin, Humulin 70/30, and others; Jardiance; Mounjaro; Trulicity; Zepbound, and others. Its oncology products include Cyramza, Erbitux, Tyvyt, Verzenio, Retevmo, Jaypirca, and others. Its immunology products include Ebglyss, Olumiant, Omvoh, and Taltz. Its neuroscience products include Emgality and Kisunla. Its LillyDirect, a direct-to-patient digital health care platform, provides delivery of select Lilly medicines dispensed by third-party pharmacies to patients.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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