By Fineline Cube 
China-based Shandong Lukang Pharmaceutical Co., Ltd. (SHA: 600789), a state-owned integrated pharmaceutical company, has announced plans for a private placement aiming to raise up to RMB 1.2 billion (approximately USD 165 million). The funds will be used for constructing an intelligent manufacturing workshop for high-end drug formulations, advancing new drug research and development, and supplementing working capital.
Funding Allocation
The proceeds from the private placement will primarily support the construction of an advanced intelligent manufacturing facility focused on high-end drug formulations. Additionally, the funding will be allocated to new drug R&D initiatives and to bolster the company’s working capital, supporting its strategic growth objectives.
New Drug Development
The company’s R&D pipeline includes three Category 1 chemical drugs, all of which are currently in various stages of clinical trials. This investment in innovation underscores Lukang’s commitment to enhancing its pharmaceutical portfolio and competitive edge in the market.-Fineline Info & Tech