Pharmaron Plans 5 Billion Yuan Investments in Drug Manufacturing Projects; Shares Slip 3%
Pharmaron Beijing (HKG:3759, SHE:300759) plans to invest a combined 5 billion yuan in drug manufacturing and CDMO projects in Zhejiang province, China, according to separate Wednesday filings with the Hong Kong bourse.Hong Kong-listed shares of the pharmaceutical company were down nearly 3% in Thursday's midday trade.The company plans to invest about 2 billion yuan in a new drug commercialization and CDMO production facility in Hangzhou's Qiantang district, with operations expected to begin in 2029.Separately, Pharmaron plans to invest about 3 billion yuan in a Shaoxing project with an annual production capacity of 200 tonnes of pharmaceutical intermediates and active pharmaceutical ingredients, including products for obesity, diabetes, and oncology treatments.The Shaoxing project's first phase is expected to begin operations in 2028, while the second phase is scheduled for 2030, subject to construction progress.
