Shareholders of pharmaceutical firm Celltrion Inc. on Monday approved a plan to merge with its sales and marketing affiliate Celltrion Healthcare Co. (Image courtesy of Celltrion)
SEOUL, Oct. 23 (Korea Bizwire) — Shareholders of pharmaceutical firm Celltrion Inc. on Monday approved a plan to merge with its sales and marketing affiliate Celltrion Healthcare Co., company officials said.
Celltrion Healthcare’s merger with Celltrion was also approved by the affiliate’s shareholders earlier in the day.
The approval came about three months after Celltrion announced its plan to integrate the group’s three listed firms — Celltrion, Celltrion Healthcare and Celltrion Pharm Inc. — in a bid to strengthen its cost competitiveness and diversify its pipeline to become a global drugmaker that produces biosimilars and new drugs.
With Monday’s approval, Celltrion and Celltrion Healthcare are expected to be fully integrated on Dec. 28, and shares of the new company will be available for trading on Jan. 12 next year.
(Yonhap)
