Northeast Pharma to Build $750 Million Antibiotic Facility

Northeast Pharmaceutical Group will invest five billion RMB ($750 million) to build a production facility for phosphonomycin, a broad-spectrum antibiotic. Northeast Pharma holds a 90% market share for phosphonomycin in China. It currently sells 400 million units of the drug each year, but will have capacity of 1 billion units with the new facility. More details.... Stock Symbol: (SHEX: 000597)