IMCD acquire South Korean pharmaceutical ingredient distributor

IMCD to acquire South Korean pharmaceutical ingredient distributor

11:25 AM, 5th November 2019
IMCD logo

ROTTERDAM, THE NETHERLANDS: IMCD NV has signed an agreement to acquire 57% of the outstanding shares of South Korean based pharmaceutical ingredient distributor Whawon Pharm Co Ltd (Whawon).

Initially, IMCD will acquire 57% of the total share capital from the existing Whawon management, who will continue to lead the company. The remaining 43%, will be maintained by the management, for a period up to 5 years after closing.

Whawon is a leading pharmaceutical distributor in South Korea with a focus on Pharmaceutical Formulation Ingredients. The company was founded in 1998 and has its head office in Seoul. In 2018, the company generated a revenue of KRW 57 billion (about EUR 44 million) with 54 employees.

“We are delighted to expand our geographical footprint into South Korea. Whawon are leaders in the supply of Excipients and Active Pharmaceutical Ingredients, and their business perfectly complements our leading global pharmaceutical position. We are dedicated to expand into the other regulatory markets of Personal Care and Food,” said John Robinson, IMCD Business Group Director Pharmaceuticals.

“IMCD is an ideal partner for Whawon as they share a similar business culture and have a highly dedicated global pharmaceutical presence. We look forward to utilising their technical capability to further develop growth for our customers and suppliers,” added Young-Hee Won, CEO of Whawon.

© Worldofchemicals News



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