On September 27, the Danang Hi-Tech Park Management Board handed over an area of 7.7 hectares to Danapha to develop a complex including a nano and biotechnology pharmaceutical factory and a hi-tech research and development centre, with a total investment capital of VND1.5 trillion ($67.5 million).
Earlier in June, the Danang Hi-Tech Park Management Board granted the investment certificate for the investor to start construction in January 2017. According to plans, the project will be implemented in three phases.
The first phase, with an investment capital of VND500 billion ($22.5 million), will have an annual output capacity of 1 billion tablets, while the second and third phases will provide an output capacity of 100 million units of injectable drugs.
The last two phases will have an investment capital of VND600 billion (427.01 million) and VND400 billion ($18.01 million), respectively.
The factory is expected to come into full capacity operation in December 2021.
Danapha also started an alternative Asian pharmaceutical manufacturing factory in Hoa Khanh industrial park in Danang in 2009, its first plant meeting GMP-WHO (good manufacturing practices as recommended by the World Health Organisation) standards.
In addition, it has completed research on a nanotechnology-based cancer injection that could lead to cheaper cancer treatment in the central region.