trending Market Intelligence /marketintelligence/en/news-insights/trending/siqnlqyedlj4oseoqcmjya2 content esgSubNav
In This List

CCM Duopharma to buy 8.39% equity stake in PanGen Biotech

Blog

Post-webinar Q&A: Global Credit Risk Trends 2021 and Beyond

Blog

University Essentials: From Crisis to Resilience – Navigating Sustainable Recovery

Blog

EV impact; vaccines to boost job market; coal supply constraints

Blog

Shore Capital is Now Available in S&P Global’s Aftermarket Research Collection


CCM Duopharma to buy 8.39% equity stake in PanGen Biotech

Malaysia's CCM Duopharma Biotech Bhd. agreed to buy an 8.39% equity stake in South Korea-based PanGen Biotech Inc. for 59.2 million ringgit in cash.

PanGen Biotech develops biosimilars and provides services related to the development of biosimilar products. The Korean company also manufactures protein reagents along with assay kits and systems.

CCM will acquire 806,450 common shares in PanGen at 73.35 ringgit in cash per share.

Closing of the transaction will occur in the second quarter, subject to CCM shareholders' approval and other customary closing conditions.

Through the acquisition, CCM expects to enter the biotherapeutics medicine market with a lower cost by partnering with PanGen in developing its existing pipeline.

CCM Duopharma is engaged in the manufacture and distribution of pharmaceutical products and medicines.

As of June 13, US$1 was equivalent to 3.98 ringgit.