The Business Times
The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Companies & Markets

SUBSCRIBERS

Korean billionaire's fortune soars as his pharma stocks surge

String of licensing deals with global drugmakers gives Hanmi founder Lim Sung-ki a net worth of about US$2.7b

Published Tue, Nov 17, 2015 · 09:50 PM
Share this article.

Seoul

THE South Korean man who founded two drug companies that are among Asia's best performing stocks for the past year is seeing his fortune climb after vaulting into the region's billionaire's club.

Hanmi Science Co has surged 971 per cent while its subsidiary Hanmi Pharmaceutical Co has gained 805 per cent over the last 12 months after a string of licensing deals with global drugmakers. The rally gave founder Lim Sung-ki a net worth of about US$2.7 billion as at Monday's close, according to the Bloomberg Billionaires index.

Hanmi Pharma has in recent months entered into partnerships with international companies including Eli Lilly Co and Sanofi for drugs it is developing as potential treatments for conditions such as diabetes and rheumatoid arthritis. Analys…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Consumer & Healthcare

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here