Hanmi Pharma of South Korea announced plans to build a second China manufacturing facility, which will be located in the northeast city of Yantai. The company recently paid $10 million for 200,000 square meters of land in the Yantai Economic and Technological Development Zone, and intends to invest $200 million over the next ten years to increase its chemical and biological drug production facilities there. Eventually, the company will also add an R&D operation in Yantai. in 2015, Hanmi signed deals for up to $6.5 billion for global rights to its development-stage drugs.
