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SK Bioscience Snaps Up IDT Biologika To Accelerate Growth

'Perfect Fit', New Capabilities

 
• By Jung Won Shin

SK Bioscience’s acquisition of top 10 CDMO marks first major acquisition as part of its growth acceleration strategy and the biggest such investment so far by a Korean vaccines firm. Execs say deal is aligned with SK Group’s wider moves to 'rebalance' its businesses.

Jae-Yong Ahn, CEO of SK Bioscience
IDT Acquisition To Bring New Capabilities, SK Bioscience CEO Jae-Yong Ahn says • Source: SK Bioscience

South Korean vaccines and biotech company SK Bioscience will acquire a 60% stake in the major Germany contract development and manufacturing organization (CDMO) IDT Biologika in a deal worth KRW339bn ($244m), in a bid to accelerate growth, diversify into new businesses and enter global markets.

The deal, expected to close in the next few months, values IDT Biologika at about KRW656bn and marks the first...

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