Hanmi breaks ground pharmaceuticals complex in Beijing

South Korea's Hanmi Pharmaceutical Co. said on Friday that Beijing Hanmi Pharm, its subsidiary in China, held the groundbreaking ceremony for a project to build a pharmaceuticals complex in an economic zone near Beijing Capital International Airport.

The project aims to establish a pharmaceutical integrated base integrating production facilities, R&D laboratories, and offices on about 14,000-square-meters. 

The total investment is expected to be around $140 billion. The complex is scheduled to be completed by the end of May 2026.

After completion, Beijing Hanmi will have an annual production capacity of 600 million capsules of finished pharmaceuticals and 90 tons of raw drug cultures, Hanmi Pharmaceutical explained. 

Write to Young- Ae Lee at 0ae@hankyung.com