Hanmi to invest $200 million to expand production into China
South Korea-based pharmaceutical company Hanmi Pharmaceuticals (128940: KS) revealed that it has purchased roughly 200,000 square meters of land in the Yantai Economic and Technological Development Zone in China for about $10 million to construct the group’s new production base facilities for the Chinese and global markets.
Hanmi plans to invest $200 million until 2026 in the area to build facilities for the production of chemical and biologic drugs and health supplements, as well as a research and development center for new drug development.
“This investment should be perceived as a strategic decision for Hanmi to become a more globalized pharmaceutical company,” said a Hanmi official.
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