Samsung Biologics (KRX:207940) will wholly acquire Switzerland-based PolyPeptide Group for about 2.71 trillion won to boost the competitiveness of its peptide contract development and manufacturing organization (CDMO) business, according to a Monday filing with the Korean Exchange.
The company will purchase 33.02 million shares, which is the entire issued share capital of PolyPeptide.
Shares of Samsung Biologics fell nearly 2% in recent trade.
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