KPS Secures 100% Stake in Hanguk Global Pharmaceutical... "First Step Toward Full Transformation into a Biotech Company"

Kim Ha-yong, CEO of KPS.

KPS has fully incorporated Korea Global Pharmaceutical as a 100% wholly owned subsidiary.

According to the Financial Supervisory Service's electronic disclosure system on the 24th, KPS signed a transfer contract for 10,674 shares (3.56% stake) of Korea Global Pharmaceutical held by minority shareholders, acquiring these shares to secure a total of 300,000 shares (100% stake), becoming the complete parent company.

Previously, on November 13 last year, KPS signed a stock transfer contract with Bitsarang, the largest shareholder of Korea Global Pharmaceutical, and 36 other shareholders, securing a 96.44% stake (289,326 shares). Subsequently, while conducting a comprehensive stock exchange for the remaining 3.56% stake held by minority shareholders, the transfer contract with the minority shareholders was completed.

As a result, the merger process between KPS and Korea Global Pharmaceutical is expected to accelerate.

Korea Global Pharmaceutical is a strong player in the ethical pharmaceutical (ETC) market. Of the 183 approved products within Korea Global Pharmaceutical, 173 are ETC, with major items including cardiovascular and digestive system treatments, and hyperlipidemia treatments. The company also owns numerous self-produced products such as the hyperlipidemia treatment "Glostar Tablets," as well as psychiatric and central nervous system drugs.

The company's sales and operating profit in 2022 were approximately 41.3 billion KRW and 3.3 billion KRW, respectively. In 2023, sales reached 39 billion KRW and operating profit was 2.1 billion KRW.

Kim Hayong, KPS's CEO, stated, "The merger with Korea Global Pharmaceutical is the first full step toward transforming into a biotech company," adding, "We are actively expanding our sales items and structuring a business model that maximizes in-house production items, making it possible to achieve sales of 100 billion KRW in the short term."