South Korean drugmaker Hanmi Pharmaceutical Co. is expanding its presence in China with a new manufacturing and research complex near Beijing’s main airport, pushing ahead with overseas growth despite challenging market conditions.
The company’s Chinese subsidiary, Beijing Hanmi Pharm, started construction on the 14,000-square-meter facility that will combine production, research and development, and office space. The 140 billion won ($140 million) project is set for completion in May 2026.
The expansion marks Hanmi’s largest investment in China to date, where local pharmaceutical companies face increasing regulatory scrutiny and price pressures. Once operational, the facility will have capacity to produce 600 million capsules and 90 tons of raw pharmaceutical materials per year.
Hanmi’s move comes as other global pharmaceutical companies reassess their China strategies amid geopolitical tensions and regulatory changes. The South Korean company is betting on continued growth in China’s healthcare market, which remains one of the world’s largest despite recent economic headwinds.
