Bio & Pharma
S.Korea’s top pharmaceutical distributor buys 25% of No. 2 Baekje Pharma
Getting approval from the Fair Trade Commission, Geo-young expects synergy between customer expansion and export promotion
By Jun 14, 2023 (Gmt+09:00)
1
Min read
Most Read
Macquarie eyes its 1st Korean data center valued around $722 mn
SK Inc. in talks to sell Pharmteco’s US CDMO plant to Novo Nordisk
S.Korea's LS Materials set to boost earnings ahead of IPO process
Galaxy Ring, new foldables set to steal the show at Samsung Unpacked Paris
POSCO gears up for carbon-free steelmaking with hydrogen
South Korea’s top pharmaceutical distributor Geo-young Co. has acquired 25% of market No. 2 Baekje Pharmaceutical.
Geo-young on Tuesday said the Fair Trade Commission approved the transaction. Founded in 2002, the company has 80% of domestic pharmacies as customers and tops its sector in sales.
The stake purchase is in line with the aggressive overseas advance of the nation’s healthcare industry by promoting exports of domestic medicine and medical devices.
“Geo-young and Baekje Pharmaceutical will create business synergy by using each other’s strengths,” a Geo-young source said. “This collaboration will be an important inflection point for raising the competitiveness of domestic pharmaceutical distribution overall and advancing its business.”
Write to Ji-Hyun Lee at bluesky@hankyung.com
More to Read
-
Corporate strategyHyundai Glovis to spend $6.5 billion, seek M&As for expansion
Jun 28, 2024 (Gmt+09:00)
-
Korean chipmakersSouth Korea sets sights on fostering EDA tech to win HBM chip war
Jun 28, 2024 (Gmt+09:00)
Comment 0
LOG IN