South Korean pharmaceutical and biotech companies are lining up to enter the global obesity treatment market. Hanmi Pharmaceutical (128940.KS) is closest to commercializing an in-house obesity drug, while Onconic Therapeutics (476060.KQ) has joined the race by disclosing a new drug candidate.
Onconic Therapeutics will present preclinical results for its new obesity drug candidate for the first time at an obesity conference in Washington, D.C., in November, according to industry sources on the 28th. The candidate's name and its specific mechanism of action will be disclosed at the event.
Hanmi Pharmaceutical is furthest along among domestic developers. The company is in the final stages of commercializing efpeglenatide, a GLP-1 class obesity drug it developed in-house. Hanmi aims to obtain product approval in the second half of this year and launch the drug before year-end.
Later entrants are focusing on differentiating their products from existing GLP-1 treatments. Celltrion (068270.KS) is conducting primate toxicity studies on CT-G32, designed to act simultaneously on four targets including GLP-1. The company aims to file an investigational new drug (IND) application in the first half of 2027. MetaVia, an affiliate of Dong-A ST, is running a Phase 1 trial in the United States for DA-1726, a dual GLP-1 and glucagon agonist.
Turning injections into pills is another battleground. Ildong Pharmaceutical (249420.KS) has developed ID110521156, an oral GLP-1 candidate, and is preparing to file a Phase 2 IND application in the first quarter of 2027. Chong Kun Dang is also developing CKD-514, an oral GLP-1 class candidate.
Efforts to extend dosing intervals are also underway. Daewoong Pharmaceutical (069620.KS) is developing a once-monthly long-acting obesity treatment, while Peptron has filed a Phase 1 IND application for PT403, a once-monthly formulation that applies its proprietary drug delivery technology to semaglutide. Alteogen (196170.KS) is also developing ALT-M5 as a once-monthly obesity treatment using its own long-acting platform. JW Pharmaceutical (001060.KS) is developing bofanglutide, a GLP-1 class drug, for dosing once every two weeks, and filed a Phase 3 IND application last month.
Preserving muscle while reducing weight has emerged as another axis of competition. D&D Pharmatech (347850.KQ) will unveil DD18, a candidate targeting UCN2 — a peptide involved in energy metabolism and muscle preservation — at the obesity conference in November. The candidate aims to reduce body fat while maintaining muscle mass.
"Obesity treatment has reached a stage where it is difficult to differentiate with a once-weekly GLP-1 alone," an industry official said. "Ultimately, for Korean companies entering as later players to survive in the global market, they will have to demonstrate clear advantages in convenience or efficacy over existing treatments."
