Bukwang Pharmaceutical announced on the 5th that it has been selected as the final acquirer of Korea Union Pharmaceutical.
Bukwang Pharmaceutical was selected as the final acquirer through a public bidding process after signing a conditional investment contract to acquire Korea Union Pharmaceutical on December 17 last year. The sales underwriter is Wonjin Accounting Corporation.
The acquisition amount is 30 billion won. However, the final acquisition amount may change depending on the rehabilitation process. If there is a decision to pay the remaining investment for the final acquisition, it will be disclosed separately.
This merger and acquisition (M&A) was conducted in a 'stalking horse' manner. A stalking horse is a method where a preferred negotiation partner is selected in advance, followed by a public competitive bidding process. If there are no additional bidders or if no bidders make a more favorable offer than the preferred negotiation partner's conditions, the existing preferred negotiation partner is confirmed as the final acquirer.
With this contract, Bukwang Pharmaceutical will expand its production capacity for antibiotics, injectables, and other products in addition to its existing solid dosage forms. In particular, it has expanded its portfolio into the area of chronic disease treatments centered on specialty pharmaceuticals.
A representative from Bukwang Pharmaceutical stated, "With this acquisition, Bukwang Pharmaceutical's pharmaceutical production capacity will increase by about 30%. Since Korea Union Pharmaceutical has liquid injectable production facilities that can produce more than twice that of Bukwang Pharmaceutical, the production capacity for liquid injectables will also be expanded," he said.
