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Alteogen Eyes ASEAN, OIC Biosimilar Markets Via Malaysian JV

 
• By Jung Won Shin

Alteogen is taking a different strategy versus its bigger South Korean biosimilar rivals as it is aiming to enter the ASEAN and OIC biosimilar markets by establishing a joint venture with a state-owned Malaysian firm.

Business teamwork puzzle pieces.

Alteogen Inc. has agreed to set up a joint venture with Malaysia's state-owned Inno Bio Ventures Sdn. Bhd. to enter the Association of Southeast Asian Nations (ASEAN) and Organization of Islamic Cooperation (OIC) biosimilar markets, estimated together to be worth KRW3tn ($2.82bn).

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