Bukwang Pharmaceutical Selected as Final Acquirer of Korea United Pharm

"Stalking Horse" Method Used... Acquisition Amount Reaches 30 Billion Won

Bukwang Pharmaceutical announced on January 5 that it has been selected as the final acquirer of Korea United Pharm.

Exterior view of Bukwang Pharmaceutical headquarters in Dongjak-gu, Seoul. Bukwang Pharmaceutical

Previously, on December 17, 2025, Bukwang Pharmaceutical signed a conditional investment agreement to acquire Korea United Pharm. Afterward, it was selected as the final acquirer through an open bidding process. The sale was managed by Wonjin Accounting Corporation.

The acquisition amount is 30 billion won. However, the final acquisition price may change depending on the rehabilitation process. If a decision is made to pay the remaining investment for the final acquisition, a separate disclosure will be made.

This merger and acquisition (M&A) was conducted using the "stalking horse" method. The stalking horse process involves pre-selecting a preferred bidder and then conducting a public competitive bidding. If there are no additional bidders or no proposals more favorable than the preferred bidder's terms, the existing preferred bidder becomes the final acquirer.

With this agreement, Bukwang Pharmaceutical has expanded its production capabilities beyond existing solid oral formulations to include antibiotics and injectables. In particular, it has broadened its portfolio into the field of prescription drugs for chronic disease treatment.

A Bukwang Pharmaceutical official stated, "Korea United Pharm has liquid injectable production facilities more than twice the size of Bukwang Pharmaceutical's. With this acquisition, Bukwang Pharmaceutical's pharmaceutical production capacity will increase by about 30%." He added, "The current management of Bukwang Pharmaceutical has previously turned the company from a deficit into a surplus. We will apply this expertise to normalize the management of Korea United Pharm."