Hanmi Pharmaceutical reported that its experimental obesity treatment achieved nearly 10% weight reduction in a phase 3 trial, positioning the company to compete in a market dominated by Novo Nordisk and Eli Lilly that analysts project could reach $150 billion by 2030.
The drug, efpeglenatide, produced an average 9.75% weight loss after 40 weeks compared with 0.95% for placebo, according to results from a 448-patient study conducted at multiple Korean hospitals. The company plans to file for domestic approval before year-end, targeting a 2026 launch—earlier than its initial 2027 timeline.
The trial data showed 79% of patients lost at least 5% of body weight, while half achieved 10% or greater reduction. Some participants lost up to 30% during the treatment period. However, the drug carries familiar side effects: nausea affected 17% of patients, diarrhea 18%, and vomiting 12%—rates the company acknowledged were consistent with existing GLP-1 medications.
Eli Lilly’s tirzepatide and Novo Nordisk’s semaglutide currently dominate the obesity drug market, with superior efficacy data in trials. Hanmi’s results appear modest by comparison, though the company emphasizes its drug’s once-weekly formulation and potential cardiovascular benefits.
The announcement sent Hanmi’s shares soaring 26.25% to close at 428,000 won ($298), reflecting investor enthusiasm for any credible challenger in the lucrative weight-loss sector. The company is extending the trial to 64 weeks to assess longer-term efficacy and plans to pursue diabetes indications.
Chief Executive Park Jae-hyun called the pending launch an important milestone, though Hanmi faces considerable hurdles breaking into a market where established players already command substantial prescriber loyalty and distribution networks.
