South Korea’s Hanmi Pharma, which is working diligently to transform itself from a generic drugmaker into a company known for novel products, is making China as a centerpiece of its plans -- both as a market and a source of innovation. The company already has well-established R&D and manufacturing facilities in Beijing. Earlier this year, Hanmi announced a $200 million (over ten years) project in Yantai that will include manufacturing and R&D facilities. It also launched Hanmi Ventures with $9 million to form partnerships that further its open innovation R&D model.
