Nichiko Pharma to acquire 33.4% stake of Korea's Aprogen

Published: 2010-10-25 06:56:00

Updated: 2010-10-25 06:56:00

Aprogen Inc, a Daejeon-based manufacturer of diagnostic pharmaceuticals and an affiliated company of Schnell Biopharmaceuticals, said on October 21 that Japan based Nichiiko Pharmaceutical plans to acquire 33.4 percent of its stake through a private-placement contract.

Under the agreement, Japan's largest manufacturer of generic drugs is expected to buy newly issued Aprogen shares worth 1 bi...

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