S.Korea’s top pharmaceutical distributor buys 25% of No. 2 Baekje Pharma

South Korea’s top pharmaceutical distributor Geo-young Co. has acquired 25% of market No. 2 Baekje Pharmaceutical.

Geo-young on Tuesday said the Fair Trade Commission approved the transaction. Founded in 2002, the company has 80% of domestic pharmacies as customers and tops its sector in sales. 

The stake purchase is in line with the aggressive overseas advance of the nation’s healthcare industry by promoting exports of domestic medicine and medical devices.

“Geo-young and Baekje Pharmaceutical will create business synergy by using each other’s strengths,” a Geo-young source said. “This collaboration will be an important inflection point for raising the competitiveness of domestic pharmaceutical distribution overall and advancing its business.”

Write to Ji-Hyun Lee at bluesky@hankyung.com