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SK Bioscience Acquires German Vaccine Manufacturer IDT Biologika for KRW 656 Billion

Deal to Bolster SK Bioscience's Global Expansion and Strengthen Vaccine Production Capabilities
South Korea
s 302440.KO Mid and Small Cap 2000
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On June 27, SK Bioscience announced its acquisition of IDT Biologika, a top 10 global vaccine consignment producer, from Germany’s Klocke Group. The deal, valued at KRW 656 billion, includes a 60% stake in IDT Biologika for KRW 339 billion. This strategic acquisition is poised to significantly boost the domestic bio industry and accelerate SK Bioscience’s global market presence.

Founded in 1921, IDT Biologika is a well-established CMO and CDMO with operations in Germany and the United States. The company is renowned for its expertise in vaccine and biopharmaceutical production, serving over 15 major global pharmaceutical companies and numerous biotechs. IDT Biologika employs approximately 1,800 staff and boasts high-level cGMP facilities.

The acquisition enhances SK Bioscience’s capabilities, immediately doubling its sales and expanding its production and customer network. The cross-shareholding agreement includes Cloquet Group retaining a 40% stake in IDT Biologika and acquiring a 1.9% stake in SK Bioscience. This partnership aims to foster management stability and drive new growth.

IDT Biologika’s advanced infrastructure and proven technology will provide SK Bioscience with a robust platform for future growth. The German company’s solid sales, including a record EUR 312 million in 2022, position it as a valuable asset. The deal also facilitates SK Bioscience’s entry into new bio areas, such as cell gene therapy, and strengthens its global supply chain.

This acquisition marks a significant step for SK Bioscience, aiming to secure a stable operating profit structure and enhance its corporate value through strategic expansions and improved production efficiencies.

 

 

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