[Stock in Focus] Boryung Surges Over 5% on Acquisition of Anticancer Drug Rights Worth 100 Billion Won Annually

On October 1, Boryung showed strong performance in early trading. This comes as news broke that the company has established a foundation for its anticancer drug business to enter overseas markets.

As of 9:30 a.m. on this day, Boryung was trading at 9,200 won, up 480 won (5.50%) from the previous trading day.

The previous day, Boryung announced that it had signed an acquisition agreement with global biopharmaceutical company Sanofi for the global business rights to the cytotoxic anticancer drug "Taxotel," including domestic and international sales rights, distribution rights, licensing rights, manufacturing rights, and trademark rights. As a result, investor interest has increased.

The contract is valued at up to 175 million euros (approximately 287.8 billion won). Of this, 161 million euros will be paid on the closing date, and 14 million euros will be paid upon achieving certain conditions specified in the contract.

Through this agreement, Boryung will comprehensively acquire all business operations of Taxotel in 19 countries-including Korea, China, Germany, and Spain-as well as in South America and the Middle East, once approval is obtained from the regulatory authorities in each country.

After completing the necessary regulatory procedures, Boryung plans to produce Taxotel at its Yesan Campus. Boryung will directly distribute and sell the original pharmaceutical product in the global market.