[Source: Samyang Biopharm]
[Source: Samyang Biopharm]


(Seoul=Yonhap Infomax) Pil Joong Jeong – Samyang Biopharm, the pharmaceutical and bio-specialty arm of South Korea’s Samyang Group, announced on the 24th that it has been listed on the Korea Exchange’s main board (KOSPI).


The company listed 7,435,870 shares.


This direct listing follows a spin-off from Samyang Holdings, the group’s holding company, which took effect on the 1st of this month. Under the spin-off, shareholders of Samyang Holdings received shares in both the existing and newly established entities in proportion to their holdings, allowing for listing without a separate subscription process.


Samyang Biopharm stated that the listing enables the company’s growth potential and technological capabilities to be independently evaluated by the market. The company added that the move enhances credibility with overseas partners and investors, and strengthens its ability to secure funding for research and development (R&D) and global expansion.


Samyang Biopharm plans to enhance corporate value by focusing on a specialty portfolio that includes biodegradable surgical sutures, gene delivery systems, and oncology drugs.


Since 1993, Samyang Biopharm has maintained the top global market share in biodegradable surgical sutures, having developed the product for the first time in South Korea.


The company has also expanded its pharmaceutical business centered on oncology, building a portfolio of anticancer drugs for seven types of solid tumors and five types of hematologic cancers. Recently, it completed a cytotoxic injectable anticancer drug plant with an annual capacity of 5 million vials, which has received GMP certification in Japan and Europe.


Kim Kyung-jin, CEO of Samyang Biopharm, said, “This listing allows the company’s technological prowess and growth potential to be independently assessed. We will leverage our competitive advantages to enhance corporate value and contribute to the overall valuation of the group.”


joongjp@yna.co.kr


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