Hanmi Pharm to launch Korea's first homegrown GLP-1 obesity drug as early as this month

Market watches whether Epe can break Wegovy-Mounjaro duopoly with a price tag in the 100,000-won range

Hanmi Pharm plans to enter the obesity drug market — currently split between Wegovy and Mounjaro — with its new drug Epe as early as this month. [Getty Images Bank]
Hanmi Pharm plans to enter the obesity drug market — currently split between Wegovy and Mounjaro — with its new drug Epe as early as this month. [Getty Images Bank]

Hanmi Pharm is preparing to challenge the domestic obesity drug market — currently divided between Novo Nordisk's Wegovy and Eli Lilly's Mounjaro — with its homegrown new drug Epe.

The company plans to launch Epe as early as this month. Epe will be Korea's first domestically developed glucagon-like peptide-1 (GLP-1) obesity drug; it recently received approval from the Ministry of Food and Drug Safety as the country's 45th new drug.

The GLP-1 class obesity drugs Wegovy and Mounjaro have seen surging demand for their appetite-suppressing and satiety-sustaining effects, according to industry sources. The domestic obesity drug market is expected to reach 2 trillion won ($1.49 billion) this year.

In South Korea, Wegovy launched first in October 2024, followed by Mounjaro in August last year.

Mounjaro has rapidly gained market share against Wegovy, which had previously dominated the domestic obesity drug market, and now holds the top position with a widening lead. In the first half of this year, Mounjaro posted retail sales of 744.4 billion won, compared with 217 billion won for Wegovy, according to data compiled by pharmaceutical market research firm IQVIA.

Epe, South Korea's first GLP-1 receptor agonist obesity treatment. [Hanmi Pharm]
Epe, South Korea's first GLP-1 receptor agonist obesity treatment. [Hanmi Pharm]

Epe is the lead pipeline of Hanmi Pharm's obesity drug project "H.O.P" and is backed by clinical data drawn exclusively from Korean patients. The entire process — from active ingredient manufacturing to finished product — takes place domestically. In a clinical trial involving 448 Korean obesity patients, participants who received Epe for 40 weeks lost an average of 9.75 percent of their body weight, with some shedding up to 30 percent.

Epe reduces the risk of gastrointestinal side effects such as nausea and diarrhea through a gradual dose-escalation approach. The Ministry of Food and Drug Safety approved Epe in doses ranging from 2 to 10 milligrams.

Industry observers say Epe's weight-loss efficacy may be somewhat lower than that of Wegovy and Mounjaro, but its side-effect profile could be comparable or milder.

Price is drawing the most attention. The four-week cost of Wegovy and Mounjaro in South Korea runs around 300,000 won at the lowest dose.

As a result, a significant number of patients have been traveling to Japan to obtain prescriptions — taking advantage of the weak yen — or searching for clinics and pharmacies that offer lower prices. If Hanmi Pharm prices Epe more competitively, the drug could quickly gain market share in the obesity drug segment.

Market watchers say the four-week price of Epe could fall in the 100,000-won range.

"We will lower the barrier to obesity treatment with an affordable price so that patients who need long-term treatment can reduce their financial burden," Hanmi Pharm said. "We intend to set the price by comprehensively reflecting market conditions, distribution structure, clinical value and sustainable supply."

Meanwhile, Hanmi Pharm is conducting a Phase 3 trial to expand Epe's approved indications beyond obesity and overweight in non-diabetic adults to include diabetes.

Other domestic pharmaceutical companies are also advancing their obesity drug pipelines. HK inno.N and JW Pharmaceutical are each pursuing Phase 3 trials for obesity drug candidates licensed from Chinese firms, while Celltrion is reviewing a global clinical trial for a quadruple-action obesity drug.


yjsung@heraldcorp.com