Lukang Pharmaceutical raises 1.2bn yuan for manufacturing expansion

Shandong Lukang Pharmaceutical revised its application for a non-public share issuance worth up to 1.2 billion yuan after addressing Shanghai Stock Exchange audit inquiries.

The funding will support high-end pharmaceutical intelligent manufacturing, bio-pesticide production, and new drug research and development to expand production capacity and technological innovation.

Controlling shareholder Hualu Group issued undertakings to avoid horizontal competition related to overlapping drug approvals.