Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
SK Holdings revealed its acquisition of a French drug-maker called Yposkesi this week. The third-largest conglomerate in South Korea made the purchase in its bid to strengthen its competitive power in the global market’s biotech sector.
Moreover, SK has acquired French drug manufacturer Yposkesi to expand into the rapidly growing contract manufacturing organization (CMO) business, the newly renamed holding company of SK Group said Wednesday.
SK completed the acquisition
The Korea Times reported that SK acquired 70% percent shares, and this includes management rights in the French company. The acquisition came four months after the South Korean company said it is in talks to purchase Yposkesi.
The price of the deal was not mentioned in the reports, so there is no clear figure how much SK shelled out for the acquisition. The deal has been completed, and Yposkesi will now be operated by SK Pharmteco, a CMO subsidiary owned by SK Inc. based in Sacramento.
"We are glad to advance into the gene therapy CMO business by investing in Yposkesi which has great capability and potential," Jang Dong Kyun, SK’s chief executive officer, said. "We will spare no efforts to help Yposkesi grow fast in the global market."
About Yposkesi
Yposkesi, the French cell, and gene therapy company, is also one of the largest Contract Development & Manufacturing Organizations (CDMO) in Europe. With the purchase of this company, SK will now be able to supply innovative drugs around the world through creating a contract manufacturing organization (CMO) business system, as per Aju Business Daily.
Yposkesi was launched in 2016 by AFM-Téléthon and by the SPI fund managed by Bpifrance. It is the first French firm to develop and produce gene and cell therapy products. The company’s goal is to create the first treatments available to patients then sell them for a fair price.
Meanwhile, this is SK Holding’s third acquisition deal in the global CMO industry as it aims to be one of the best players in the biotechnology industry. Its purchase of pharma and biotech companies shows its determination to rise above in the market for this field.
"SK plans to complete the value chain of its synthetic and biopharmaceutical CMO business in the U.S., Europe and Asia by 2025," SK’s head in bio investment center, Lee Dong Hoon, said. "We will foster SK Pharmteco as a global leading CMO that can supply synthetic, gene and cell therapy drugs to the global pharmaceutical market."
