Klocke, a pharmaceutical group, will retain a 40-percent stake in the firm.
SEOUL ― SK Bioscience will acquire a 60-percent stake in German pharmaceutical contract manufacturing firm IDT Biologika GmbH from Klocke Gruppe in a deal worth 339 billion won , the South Korean vaccine maker said on Thursday.This is SK Bioscience 's first major M&A deal since its 2021 IPO raised $1.33 billion. SK Bioscience shares were trading up 11.7 percent in morning trade after the announcement.
Its parent SK Group, best known for its chip firm SK Hynix, has been considering ways to streamline its business to focus on key areas including artificial intelligence, chips and batteries.The group is working on rebalancing each business area, SK Bioscience Chief Executive Officer Jaeyong Ahn told reporters on Thursday, adding that the deal was aligned with the company's 'big flow of overall optimization.
SK Bioscience To Buy Control Of Germany's IDT Biologika For $244M
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SKorea: North Korea's latest missile test failsSEOUL — A North Korean ballistic missile test Wednesday likely ended in failure, South Korea's military said, days after the North protested the recent regional deployment of a US aircraft carrier for a trilateral military drill with South Korea and Japan.
Read more »
US aircraft carrier in SKorea for joint drills(UPDATE) SEOUL — A United States aircraft carrier arrived in South Korea on Saturday for joint military drills that aim to better counter North Korean threats, Seoul's navy said.
Read more »
US aircraft carrier arrives in SKorea for joint drillsSEOUL, South Korea — A US aircraft carrier arrived in South Korea on Saturday for a joint military drills aimed to better counter North Korean threats, Seoul's navy said.
Read more »
SKorea fires warning shots after 3rd intrusion(UPDATE) SEOUL — South Korea's Joint Chiefs of Staff said Friday it had fired warning shots after North Korean soldiers briefly crossed the heavily fortified border in the third such incursion this month.
Read more »
SKorea fires warning shots after new border incursionSEOUL, South Korea — Seoul's military said Friday it had fired warning shots after North Korean soldiers briefly crossed the heavily fortified border in the third such incursion this month.
Read more »
SKorea's SK Innovation and SK E&S to pursue mergerShares in SK Innovation rose more than 10 percent on Thursday morning.
Read more »