Hanmi Pharmaceutical introduced first domestically developed lung cancer drug

Hanmi Pharmaceutical Vice President Son Ji-woong makes a presentation about the company’s newly released targeted therapy drug for lung cancer, Olita Tab, at Westin Chosun Hotel in central Seoul, Friday. / Courtesy of Hanmi Pharmaceutical

By Jhoo Dong-chan

Hanmi Pharmaceutical started selling the first domestically developed targeted therapy drug for lung cancer, “Olita Tab,” Friday.

The company recently surprised the drug market with a series of blockbuster licensing deals amounting to 8 trillion won ($6.42 million).

Olita, or its component name Olmutinib, is expected to be prescribed for the treatment of people with locally advanced or metastatic epidermal growth factor receptor (EGFR) mutation-positive non-small cell lung cancer, who had previously been treated with an EGFR tyrosine kinase inhibitor (TKI).

On May 13, the Ministry of Food and Drug Safety announced approval of the targeted therapy drug for lung cancer, which is considered a major breakthrough for lung cancer patients.

“The approval of Olmutinib is a great step forward for lung cancer patients in Korea,” Professor Park Keun-chil, Director of Innovative Cancer Medicine Institute (ICMI) at Samsung Medical Center, said.

“This is an exciting and much needed new treatment option for the majority of EGFR mutation-positive lung cancer patients whose disease has become resistant to first-line TKI therapy, which can be devastating.”

A Hanmi Pharmaceutical official said that among 76 treated patients, Olita has shown 62 percent of its objective response rate by independent assessment and a 91 percent disease control rate.

The company reached an 850 billion won ($730 million) exclusive license agreement with German-based pharmaceutical company Boehringer Ingelheim last year, providing worldwide exclusive rights, except in Korea, China and Hong Kong. Chinese ZAI Lab has secured exclusive rights in China, including Hong Kong and Macau.

Olita Tab comes in 200mg and 400mg tablets.

Hanmi Pharmaceutical was founded in 1973 by then pharmacist and incumbent chairman Lim Sung-ki. It has clinched a licensing deal with global drugmaker Sanofi to develop a portfolio of experimental, long-acting diabetes treatments valued at up to 5.1 trillion won.

The company's annual sales jumped to nearly 1.32 trillion won last year, up 73 percent from the previous year's 761 billion won. Its operating income skyrocketed 515 percent to 211.8 billion won.