Meridian Acquisition in Final Stage
Automated Facility to Be Built in the US
Expansion to Direct Sales System in 10 Countries Within the Year
[Asia Economy Reporter Myunghwan Lee] SD Biosensor announced its corporate vision on the 10th (local time) at the 'JP Morgan Healthcare Conference' (JPMHC), the largest event in the pharmaceutical and bio industry. SD Biosensor also revealed plans to pursue additional mergers and acquisitions (M&A) and enter the U.S. market.
SD Biosensor announced on the 12th that it gave a presentation in the APAC & LaTam section upon official invitation from the JP Morgan Healthcare Conference. Hyeim Cho, Executive Director of SD Biosensor, who gave the presentation, stated, "We will compete with global in vitro diagnostic companies through entry into the U.S. market and additional M&A."
SD Biosensor said it is currently in the final stages of acquiring Meridian in the U.S. The Life Science (LS) business division of Meridian Bioscience, which SD Biosensor decided to acquire last year, has extensive expertise in gene amplification (PCR), enzymes, antigens, antibodies, and the production and supply of pharmaceutical raw materials. SD Biosensor plans to independently operate everything from raw material development to production within the U.S. by adding diagnostic platform research and development capabilities. The Diagnostics (DX) business holds a high market share in the U.S. with gastrointestinal (GI) panels and lead poisoning diagnostic products, which will be added to SD Biosensor’s product portfolio.
Executive Director Cho stated, "Combining the main bases, production plants, and distribution networks of both companies will allow us to cover global markets including the U.S., and we expect synergy effects from this." She added, "The purpose of acquiring Meridian is to quickly enter the U.S. market by utilizing local production and distribution networks and accelerating U.S. Food and Drug Administration (FDA) registration. We plan to build automated facilities locally to meet demand within the U.S."
Cho Hye-im, Executive Director of SD Biosensor, is presenting at the JP Morgan Healthcare Conference on the 10th (local time). Photo by SD Biosensor
She also revealed plans to expand to a direct sales system in 10 countries within this year.
Starting with Brazil’s ECO, SD Biosensor acquired Germany’s Bestbion and Italy’s Rilab sequentially, establishing a direct sales system. Future M&A will focus on companies that can expand research and development (R&D) scope or overseas diagnostic distributors. Executive Director Cho said, "We will conduct strategic M&A to expand our global distribution network and plan to expand to a direct sales system in at least 10 countries within this year."
Additionally, a new product was unveiled. The 'Standard M10 FAST RT-PCR,' which maintains the accuracy of RT-PCR while reducing testing time by 50%, will be launched within the year with a goal of achieving a 15% market share.
During the conference, SD Biosensor held numerous one-on-one meetings with investors regarding business development and investment.
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