GC Pharma Sells N American Plasma Units To Grifols As Pandemic Prolongs
$460m Package Deal
The South Korean pharma firm, which has been focusing on North America, decides to sell two subsidiaries there as the prolonged coronavirus pandemic further delays commercial manufacturing of plasma products.
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South Korean pharma and biotech companies are opting to spin off certain businesses and set up new subsidiaries to speed up R&D progress and tap funding opportunities. The move, which has become more visible in the past few years is in line with global biopharma trends, although the reasons may vary.