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South Korean biopharmaceutical firm Celltrion Inc. will acquire the patent, trademark, and sales rights for 18 brands of Japan's Takeda Pharmaceutical in Asia-Pacific for 332.4 billion won.
The company will pursue the deal through its Singapore-based affiliate, hoping the complete the acquisition by year's end.
The nine markets covered by business rights include South Korea, Thailand, Malaysia, and Australia.
The 18 brands amassed a combined sales of $140 million in Asia-Pacific in 2018.
Celltrion plans to sell the brands through its affiliates Celltrion Pharma and Celltrion Healthcare.
The acquisition not only helps to stabilize the local supply of medication for hypertension, diabetes, and hyperlipidemia but also serves as Celltrion's first significant move in accelerating its push into the global market.
Celltrion had a net income of 298 billion won in 2019, a 17.5 percent surge from the year before.
