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AVEO Acquisition Brings LG Chem Marketed Oncology Drug, US Commercial Footprint

Milestone In Korean Pharma Development

 
• By Jung Won Shin

The acquisition of the US oncology-focused firm will immediately build the commercial presence of the affiliate of the major South Korean conglomerate in oncology through Fotivda, while bringing LG Chem a step closer to its ambitions of becoming a major global pharma operation.

M&A
AVEO To Become Foundation Of LG Chem's Global Pharma Ambitions • Source: Shutterstock

LG Chem, Ltd. has entered into a definitive agreement to acquire the US-based commercial stage biopharma company AVEO Pharmaceuticals, Inc. in an all-cash deal worth $566m, marking the first time for a Korean pharma firm to buy a US oncology-focused operation with an FDA-approved new drug.

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