Celltrion drops bid to acquire Baxter’s biopharm unit

Celltrion Inc. announced on Tuesday it has decided not to pursue the acquisition of the biopharmaceutical unit of U.S. medical device maker Baxter International Inc.

In March, Reuters reported that Celltrion, South Korea’s largest biosimilar maker, and several U.S. companies are competing for the acquisition of Baxter's biopharma solutions unit, which develops and commercializes medicines such as biopharmaceuticals and vaccines.

“We have considered acquiring it to secure stable global production facilities, but we decided not to pursue it,” Celltrion said.

Celltrion Group is actively seeking major acquisitions for its global expansion and trying to secure technology of new drugs after its founder Seo Jung-jin returned to management earlier this year.

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