- Samyang Holdings completes its merger with Samyang Biopharmaceuticals, a wholly-owned subsidiary without any capital increase
- Two major organizations within Samyang Holdings, Staff Group and Biopharmaceuticals Group to be led by Yun Jae-yeob and Eom Tae-ung
- Set to secure stable mid- to long-term resources to finance biopharmaceuticals business and accelerate its advance into global markets

Samyang Holdings (CEO Yun Jae-yeob and Eom Tae-ung) announced on the 2nd that it has completed its merger of Samyang Biopharmaceuticals, a subsidiary specializing in biopharmaceuticals.

Samyang Holdings held a board meeting in January and voted on a bill to absorb Samyang Biopharmaceuticals. The merger between the two companies was carried out as Samyang Holdings absorbed Samyang Biopharmaceuticals, its wholly-owned subsidiary, without any capital increase by issuing new shares.

Prior to the merger, Samyang Holdings had completed all relevant preparations by adding the purpose of biopharmaceuticals business to its articles of association at the meeting of shareholders. After the merger, Samyang Holdings will be driven by two major organizations: Staff Group which will be primarily responsible for personnel, finance, and strategy, and Biopharmaceuticals Group which will engage in the biopharmaceuticals business. CEO Yun Jae-yeob and Eom Tae-ung will lead each organization under their respective CEO systems.

This merger is expected to enhance the competitiveness of the biopharmaceuticals business and management efficiency of Samyang Holdings. Projects that require mid- to long-term investment such as developing new global drugs, establishing overseas production corporations, expanding its CDMO (toll manufacturing and production of pharmaceutical drugs) business, and advancing into the cosmetic market will now be able to secure stable resources and investment through the merge with Samyang Holdings. In particular, it is expected to pick up speed in its global market penetration as the merger has allowed the company to obtain substantial personnel capacity and financial stability in its new drug development businesses for checkpoint inhibitors and anticancer drugs that target metabolism, a globally competitive drug development industry.

“The biopharmaceuticals business has a stable foundation in relation to biodegradable sutures and anticancer drugs and differentiated technologies related to drug delivery systems. Therefore, we will fully implement the growth strategy for our biopharmaceuticals business, which will serve as the growth engine for the future to enhance the corporate value of Samyang Holdings and the interests of our shareholders,” said an official from Samyang Holdings.

Samyang Biopharmaceuticals was established in November 2011 with the establishment of Samyang Group’s holding company system and the split-off of Samyang Corp’s pharmaceutical business. Samyang Biopharmaceuticals holds the largest market share in the global biodegradable suture market. In the anti-cancer drug sector, the key business of Samyang Biopharmaceuticals, Genexol has maintained the top spot with a market share of around 50% in Korea among Paclitaxel drugs and is recognized in domestic and foreign markets for anti-cancer drugs based on the drug delivery system (DDS).