Local pharmaceutical company Hanmi Pharmaceutical recently signed a deal worth 5 trillion won with a global company to supply its new medicine technology of diabetes, the biggest export deal among Korean pharmaceutical companies.
After Hanmi set a new record again in four months in exporting new medicine technology, local securities firms all together raised the company’s target stock prices.
Hanmi said on Thursday it pulled off a deal with Sanofi to transfer its technologies of new diabetes medicine lineup dubbed "Quantum project." Sanofi, the French multinational pharmaceutical company, is the world's fifth largest pharmaceutical company, grossing over around 40 trillion won in annual sales.
Hanmi applied its exclusive "Lapscovery" technology, which allows extending the period of bio medicine's medicinal effect. The deal price is around 4.8 trillion won, the largest figure among local pharmaceutical companies.
The local pharmaceutical company gets around 500 billion won as a down payment and will also receive sales royalty which is more than 10 percent after the release of the products.
Hanmi already signed three major deals with global companies apart from this contract. In July, the company exported its technology of new anticancer treatment HM61713 valued at 850 billion won, the biggest deal among exporters at the time.
In March, the company also sold new anticancer treatment "Poziotinib" and treatment for immunological disease "HM71224" worth 780 billion won.
