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.

(Hanmi Science)