Orion bids KRW 548.5 bil to enter the pharma industry
By Kim, Jin-Gu | translator Kim, Jung-Ju
24.01.16 12:05:38
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Acquires 25.7% stake of LegoChem Biosciences for KRW 54.85 billion... 4 years after announcing entry into the pharmaceutical industry in 2020
Has been making passive strides in the area, including indirect investments and joint ventures… is expected to expand business in earnest after acquiring LegoChem
With the acquisition of LegoChem, Orion is expected to jump into the pharmaceutical bio-industry in earnest, breaking away from its previous passive activities such as signing a memorandum of understandings, making indirect investments, and establishing joint ventures.
According to industry sources on the 16th, Orion announced on the 15th that it will acquire 9.36 million and 3,283 shares of LegoChem Biosciences for KRW 54.85 billion. After the acquisition, Orion will possess a 25.73% stake in the company, making it the largest shareholder of LegoChem Biosciences.
Orio
Kim, Jin-Gu(kjg@dailypharm.com)
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