Dx&Vx acquires Korea Biopharm for 15 billion won…‘Enter the CDMO market’
Korea Biopharm production plant (source: Dx&Vx)
On the 16th, Dx&Vx announced that it has acquired a 100 per cent stake in Korea Biopharmaceuticals for 15 billion won to begin the contract development and manufacturing organization (CDMO) business and to establish an integrated business structure encompassing R&D, production and distribution.
Established in 1995 and located in Jincheon, North Chungcheong Province, Korea Biopharm is a health functional food manufacturing company. The company produces over 120 products from 58 partner companies as an original equipment manufacturer (OEM) and original development manufacturer (ODM).
The company has two plants, totaling 9900 square, which have 10 production lines that produce powders, tablets, capsules, etc. When it comes to powder sticks, the flagship product, its annual production capacity is approximately 4.5 billion sticks. In 2021, the company recorded 13.5 billion sales revenue and operating profits.
Since this February, Dx&Vx has been exporting and selling bio healthcare products through online channels and 12,000 offline sales networks in China.
Dx&Vx said, “Using the GMP (medicine manufacturing and quality control) production facilities that we have recently purchased, we will expand export products to China from this October. We will also break down the technologies and items that are researched and developed by our microbiome research center, and then launch over 10 products in the domestic market.”
“As Dx&Vx has taken over the GMP production base for bio-health care, it is expected to have the synergy with Coree Group, which is led by Lim Chong Yoon, president of Hanmi Pharmaceutical. Based on the results of global clinical assessments and consumer analysis that has been collected for over 10 years, we plan to develop into high value products for women and the middle-aged and to pioneer domestic and overseas markets.”
Park Sang-tae, CEO of DX&VX, said, “the acquisition of Korea Biopharm has established a business stricter that connects R&D capabilities to production. We will continue to create various products with our biotechnologies for consumer’s daily lives.”