The company operates through its pharmaceutical manufacturing subsidiary and drug distribution network, actively developing new drugs in recent years. Hanmi recently partnered with Merck & Co on April 4, 2024, demonstrating its strategic focus on expanding its drug development pipeline and global partnerships.
Cyborg Score Rationale
In 2023, the company achieved 1.25 trillion KRW in revenue with 19.30% growth and earnings of 115.12 billion with 66.34% growth. However, recent 2024 data shows deceleration with revenue growth slowing to 2.8% and net income declining 48.4%, indicating execution challenges.
Top Insights
Core business: diabetes, oncology, and gastrointestinal treatments with diversified portfolio including health foods and medical devices
2024 profitability decline of 48.4% despite modest 2.8% revenue growth suggests pricing pressure or operational inefficiency
Strategic partnerships with global leaders (Merck & Co, Boehringer Ingelheim) validate R&D capabilities but require continuous pipeline execution
Dual revenue model combining pharmaceutical manufacturing with drug distribution (Online Pharm) provides distribution synergies
Named Competitors
Biosynthesis/Pharmaceutical Development — Large-scale biopharmaceutical contract manufacturing and development
Biopharmaceutical Products — Biosimilar and innovative biopharmaceutical company
Global Pharmaceutical Partnerships — Global pharmaceutical development partner
Recent Developments
(April 2024) Partnership with Merck & Co for pharmaceutical development
(2023) 19.3% revenue growth to 1.25 trillion KRW and 66.3% earnings growth
(2024) Revenue growth decelerated to 2.8% with significant net income decline of 48.4%
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