Hanmi Pharm aims to hit $3.57 bn in revenue within 10 years

(MK database)

Hanmi Pharmaceutical, whose founding family is currently embroiled in a management rights dispute, has unveiled an ambitious blueprint targeting 5 trillion won ($3.57 billion) in revenue and 1 trillion won in operating profit within the next decade. CEO Park Jae-hyun outlined the company’s strategic goals for 2033 during a corporate briefing at the Fairmont Ambassador Hotel in Yeouido on Monday, addressing analysts and institutional investors.

Hanmi reported 1.49 trillion won in consolidated revenue in 2023, and is still trailing behind market leader Yuhan, whose figure was 1.85 trillion won. To achieve its vision of becoming a top-tier global healthcare company, Hanmi aims to first consolidate its dominance in the South Korean market and lay the groundwork for global expansion in the initial phase spanning 2024 to 2025. The company plans to bolster its clinical and regulatory capabilities abroad and enhance operational efficiency during this period.

The company’s strategy progresses into the second phase from 2026 to 2028, where the focus will be on increasing revenue from innovative and combination drugs, alongside strengthening global operations. In the final phase, from 2029 to 2033, Hanmi intends to achieve the 5 trillion won revenue goal by accelerating growth via new drug innovations, targeting 2.2 trillion won in domestic sales alongside 3 trillion won from international markets and other revenue streams.

Hanmi’s mid-to-long-term strategy includes an emphasis on evidence-based marketing and individualized treatment approaches within its domestic business unit, with a sales target of 1.7 trillion won by 2028. For its part, the product development division will focus on creating new indications, formulations, and dosages, aiming for a steady rollout of new treatments.

Hanmi’s R&D center is focused on developing “first-in-class” drugs with novel therapeutic approaches, seeking to enhance the value of new drugs through both technology exports and independent development. The global division will focus on expanding the Hanmi brand internationally, enhancing its portfolio’s reach in overseas markets.

This plan was unveiled amid a complex leadership dispute. The company’s largest shareholder, an alliance comprising Hanyang Precision Chairman Shin Dong-guk, Chairwoman Song Young-sook, Song’s daughter, and Vice Chairwoman Lim Ju-hyun, is pressing for the establishment of a professional management system and a reorganization of the board. On the other side are Hanmi Science Director Lim Jong-yoon and Hanmi Science CEO Lim Jong-hoon, who are pushing for securing management control by March 2026, as outlined in a recent press briefing on Hanmi’s long-term growth strategy.

“It is promising to see Hanmi, a leader in domestic new drug development, driving forward with a future-oriented strategy. However, stabilizing its management situation will be crucial if these strategic goals are to be realized,” a pharmaceutical industry insider said.