WSI Acquires Leading Pharmaceutical Company IntroBiopharma... Strengthening Growth Foundation

WSI, a specialized company in pharmaceutical and medical device distribution, is expanding its business scope by acquiring Introbiopharma, a pharmaceutical research and manufacturing company.

WSI announced on the 3rd that it will acquire 67% of Introbiopharma's shares. The total acquisition amount is approximately 18.8 billion KRW, with payment to be completed by June 14.

WSI will be able to expand its business foundation not only in pharmaceutical distribution but also in research and manufacturing. By leveraging Introbiopharma's excellent pharmaceutical manufacturing capabilities and WSI's hospital and clinic network and sales power, the company plans to maximize business synergy.

Founded in 2007, Introbiopharma is a specialized company in pharmaceutical development and manufacturing. It manufactures and supplies various pharmaceuticals at its PIC/S (Pharmaceutical Inspection Co-operation Scheme) GMP (Good Manufacturing Practice) certified facilities. Currently, it holds 149 product licenses, with particularly strong competitiveness in cardiovascular and metabolic therapeutics.

Based on its outstanding pharmaceutical manufacturing and formulation development capabilities, Introbiopharma has shown strong performance in the Contract Development and Manufacturing Organization (CDMO) business, recording significant external growth. Last year, sales reached approximately 23.6 billion KRW, a 46% increase compared to the previous year. Profitability also improved, with operating profit last year increasing by 155% to 1.6 billion KRW compared to the previous year.

A WSI official stated, "Introbiopharma possesses excellent pharmaceutical manufacturing facilities and formulation development capabilities through extensive research and development experience. By expanding our business scope from existing medical device and pharmaceutical distribution to include research and manufacturing, we can further strengthen our growth foundation."