SillaJen to merge with 100% owned subsidiary 바카라 토토 Pharma

[by Ji, Yong Jun] SillaJen is integrating and merging its wholly owned subsidiary, Woosung Pharma. With this merger, SillaJen aims to internalize Woosung Pharma's capabilities in the development and sales of finished pharmaceutical products, including intravenous fluids, and transition into a "comprehensive pharmaceutical company."

SillaJen announced on April 24 that its board of directors approved a resolution to merge with its wholly owned subsidiary, 바카라 토토 Pharma. SillaJen will remain as the surviving entity, and since the merger involves a wholly owned subsidiary, no new shares will be issued. The merger contract is scheduled to be signed on April 29, with the registration of the merger set for July 1. As the merger qualifies as a small-scale merger, shareholders will not be entitled to appraisal rights, and the board resolution will substitute for approval by a general shareholders' meeting.

"The merged entity will take over the pharmaceutical development and sales operations previously carried out by 바카라 토토 Pharma, which is expected to lead to an increase in the company's revenue and overall performance," a SillaJen official said. "We anticipate that this will contribute positively to strengthening business competitiveness and driving growth."

The merger follows around one month after SillaJen acquired a 100% equity stake in 바카라 토토 Pharma for KRW 12.5 billion (approximately USD 8.7 million) in March. SillaJen purchased 80% of 바카라 토토 Pharma's shares (2,304,000 shares) from Corentec for KRW 9 billion in cash and KRW 1 billion in convertible bonds (CB) by SillaJen and acquired the remaining 20% ​​(576,000 shares) from 바카라 토토 Pharma CEO Hwan Woo for KRW 2.5 billion.

바카라 토토 Pharma is a specialized developer of intravenous fluid formulations, having recorded sales of KRW 8.1 billion (approximately USD 5.6 million) and a net profit of KRW 1.2 billion in 2024. The company primarily supplies two acetaminophen-based products, ' Profa Infusion Injection' and 'New Aminophen Premix Injection,’ to tertiary hospitals. In addition, the company is developing various generic and improved new drugs, including antibacterial agents, anticancer adjuvants, and arthritis treatments. Notably, 바카라 토토 Pharma is currently developing a 'Dexibuprofen' solution, which has been selected as a government-supported project.