CEO's message

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Last year was a difficult time for everybody due to the global economic recession and soaring exchange rates which was triggered by the US financial crisis. This was also a very hard year for those in the pharmaceutical industry with the Korean government carrying out strong price-cutting policies. However, despite these difficulties, Hanmi was able to achieve over US$558 mil.(11.4% increase) in sales with a total of 11 blockbusters, each selling more than US$10 mil. Moreover, Hanmi Beijing’s sales showed continuous growth at a rate of 25.8%, total sales adding up to more than US$49 mil.

One of Hanmi’s best selling products in the hypertension area, Amlodipin®, achieved a total of US$57 mil. (4.3% increase) in sales with Slimmer® in the obesity area also achieving a total of US$15 mil. (15.4 % increase). Guardix® anti-adhesion, was also added to Hanmi’s blockbuster list with a total sales of over US$14 mil.(100% increase).

Following these blockbusters comes Tovast® for hyperlipidemia, Esomezol® for GERD, Pidogul® as oral antiplatelet agent and Osartan® for hypertension, all together reaching sales of more than US$27 mil. In addition, OTC products showed a 20% increase in sale with a total of US$30 mil.

We believe that all of these successes were only possible due to the support and continuous interest of our shareholders and the doctors & pharmacists.

We will do our best to make this year into another opportunity for Hanmi to take one more big step-up even under the various external crisis. For this, we are going to set up and follow on some new business strategies like below.

First, we will reestablish basic sales infrastructure and lead developing of distribution system by clear sales activities.
We will also do our best for successful launching new IMDs and keeping high growth rate by special sales strategies such as individual services for each customer and intelligent sales force.

Second, we will speed up researching new anti-cancer drug and new pipeline.
We are conducting a phase II clinical study for Oraxol™ oral anti-cancer drug anticipated becoming the Hanmi’s first original drug soon and we are also going to finish a phase I clinical study for Oratecan™ the second anti-cancer candidate product. In terms of Bio-products, we will start a phase I clinical study for LAPS-EPO and LAPS-hGH.

Third, we will establish a big milestone for growing as a top global pharmaceutical company based on successful overseas business.
We expect Amodipin® sales will be highly increased in the South East Asian market and other IMD products such as Slimmer® and Pidogul® will go into many developed countries. Especially Esomezol®, the world first IMD for GERD, was granted FDA approval for clinical studies and now it is targeting the US market with launching plan by the first half of 2010. If we could successfully launch Esomezol® in the US market by challenging against original drug Nexium®, it must be the greatest achievement in Korean Pharmaceutical History. Hanmi’s overseas subsidiaries are also doing very well. Hanmi Japan is actively conducting co-development for new pipeline with major Japanese pharmaceutical companies. Moreover we founded Hanmi Europe in London last year for exporting finished products.

Hanmi will keep doing our best to be the best and respectable pharmaceutical company in good faith. We are always open to your advice. Thank you very much for your interest in Hanmi. Thank you.