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Surprise Boehringer Decision Turns Hanmi Investors’ Hopes To Despair

 
• By Jung Won Shin

Hanmi shares have gone on a wild roller coaster ride as bad news came after good. A day after it announced a huge licensing agreement with Genentech, the South Korean firm unveiled that Boehringer Ingelheim had decided to return rights to olmutinib, the EGFR inhibitor it licensed from Hanmi last July.

Return sign

What a day for Hanmi Pharmaceutical Co. Ltd.'s investors. They must have thought they were in for a rally after the South Korean pharma firm made an announcement of a hefty licensing out deal with Genentech Inc. on Sept. 29. But their hopes soon turned to disappointment.

Hanmi's shares started the next day higher, but turned sharply lower after the company disclosed that Boehringer Ingelheim GMBH...

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Pipeline Watch: Ten Approvals And Two Phase III Readouts

Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.