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Hanmi Science buys $10m land in China to build new facilities
By Sohn Ji-youngPublished : March 29, 2016 - 18:10
Hanmi Science, the holding company of South Korean pharmaceutical company Hanmi Pharmaceutical, on Tuesday said it has purchased roughly 200,000 square meters of land in Yantai, China, for about $10 million for the construction of its new facilities.
Hanmi Group plans to incrementally inject $200 million until 2026 into building new facilities for the production of biologic and chemical drugs and health supplements, as well as a research and development center for new drug development on the site.
“This investment should be perceived as a strategic choice for Hanmi Group to become a more globalized pharmaceutical company,” said a Hanmi Science official.
By Sohn Ji-young (jys@heraldcorp.com)
