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Health Technology

Hanmi Science Co., Ltd.

Company Background

Hanmi Science is a holding company with two core subsidiaries: Hanmi Pharmaceutical, which develops and produces medicines, and Online Pharm, a drug wholesaler. In recent years, the South Korean group has been actively developing new drugs. It has also accelerated overseas expansion, including by setting up a unit in Beijing.

The company's market capitalization puts it in the top tier of South Korean drug companies, alongside Celltrion.

The group was established in 1973 as Hanmi Pharmaceutical. It strengthened its presence in the drug development game in the 2000s. About 20% of sales are reinvested in research and development.

Hanmi has been focusing on clinical trials for diabetes treatments. It expects the diabetes drug market to grow at an average annual pace of over 6% from 2014 to 2023, nearly doubling in size to $42 billion.

The company's operations include original design manufacturing services for major international drugmakers, including France's Sanofi. For this, Hanmi uses a plant in Hwaseong, Gyeonggi Province. It also runs a facility for antibiotics and biotechnology in Pyeongtaek, in the same province.

Hanmi Fine Chemical, another group company, produces active pharmaceutical ingredients for major drugmakers.

In July 2015, Hanmi announced a partnership with German drugmaker Boehringer Ingelheim. The duo aims to develop a pharmaceutical candidate, HM61713, into a new molecularly targeted drug for lung cancer treatment. Hanmi is to put the drug through clinical trials in South Korea, China and Hong Kong, as well as handle sales licensing, production and commercialization in those markets.

Under the deal, Hanmi will start by using $50 million in contract money to conduct clinical development. The South Korean company stands to receive a total of $730 million, based on progress with licensing and other tasks.

Business Summary

Hanmi Science Co., Ltd. engages in the management of its subsidiaries. It is mainly engaged in the manufacturing and selling of pharmaceutical ingredients and intermediates. The company was founded on June 15,1973 and is headquartered in Hwaseong, South Korea.

Financial Highlights

Dec 2019 KRWUSD
Revenue816,618.82M700.24M
Gross Profit63,091.98M54.10M
Operating income16,145.19M13.84M
Income before tax13,591.04M11.65M
Net income30,741.64M26.36M
EBITDA22,519.89M19.31M
Diluted EPS484.760.41
Dividends Per Share196.070.16
Total Assets910,832.37M787.61M
Total liabilities265,145.24M229.27M
Total equity645,685.72M558.33M
Operating cash flow13,024.00M11.16M
Currency in KRWCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 776,628.55M 665,284.66M 652,324.36M 707,995.35M 816,618.82M
Gross Profit 157,090.07M 27,678.49M 28,307.25M 52,344.68M 63,091.98M
Operating income 147,069.05M 15,067.31M 12,704.64M 10,996.88M 16,145.19M
Income before tax 164,384.79M 5,329.86M 33,398.11M 3,661.78M 13,591.04M
Net income 178,520.88M 7,937.68M 30,068.97M 18,019.52M 30,741.64M
EBITDA 149,100.63M 18,272.20M 17,388.56M 15,602.45M 22,519.89M
Diluted EPS 2,789.97 123.29 469.05 284.49 484.76
Dividends Per Share 431.70 403.46 188.46 192.23 196.07
Total Assets 932,024.38M 969,248.66M 938,783.18M 916,545.95M 910,832.37M
Total liabilities 347,774.73M 321,684.81M 273,630.93M 263,452.03M 265,145.24M
Total equity 583,680.58M 645,286.62M 665,154.16M 653,093.47M 645,685.72M
Operating cash flow 46,927.26M 85,043.35M -33,466.88M 2,701.37M 13,024.00M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 686.18M 573.42M 577.01M 643.32M 700.24M
Gross Profit 138.79M 23.85M 25.03M 47.56M 54.10M
Operating income 129.94M 12.98M 11.23M 9.99M 13.84M
Income before tax 145.24M 4.59M 29.54M 3.32M 11.65M
Net income 157.73M 6.84M 26.59M 16.37M 26.36M
EBITDA 131.73M 15.74M 15.38M 14.17M 19.31M
Diluted EPS 2.46 0.10 0.41 0.25 0.41
Dividends Per Share 0.38 0.34 0.16 0.17 0.16
Total Assets 794.86M 802.49M 876.91M 821.42M 787.61M
Total liabilities 296.59M 266.33M 255.59M 236.11M 229.27M
Total equity 497.78M 534.26M 621.32M 585.31M 558.33M
Operating cash flow 41.46M 73.30M -29.60M 2.45M 11.16M

Valuation Measures

Dec 2019
PER79.10
ROA3.36%
ROE4.73%
Operating margin1.97%
Profit margin3.76%

Key executives

  • Co-President & Director: Sae-Chang Kwon
  • Co-President & Director: Jong-Soo Woo
  • Chief Financial Officer: Ki-Ho Song
  • Head-Legal & Compliance Support: Ji-Seon Nam
  • Chairman-Executive Board: Sung-Gi Lim

Shareholders

  • LIM SUNG-GI (34.2%)
  • SHIN DONG-GUK (12.1%)
  • Hanmi Healthcare Co., Ltd. (6.4%)
  • LIM JONG YOON (3.6%)
  • LIM JU-HYUN (3.5%)
  • LIM JONG-HOON (3.1%)
  • LIM JIN-HEE (2.2%)
  • Hanmi Science Co., Ltd. (2.0%)
  • SONG YOUNG-SOOK /HANMI/ (1.2%)
  • LIM JONG-HO /HANMI SCIENCE/ (1.1%)

Contact Details

  • Website:http://www.hanmi.co.kr
  • Address: 214 Muha-ro, Paltan-myeon, Hwaseong, 18536, South Korea
  • Phone: +82.31.410.9114

Related Companies

  • Online Pharm. Co., Ltd.

Competitors

  • DAE HWA PHARM Co., Ltd.
Last Updated on 10 Aug, 2020

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