Daewoong acquires Chinese drug firm

Daewoong Pharmaceutical Co., one of Korea's leading pharmaceutical companies, said last Thursday that it has signed a deal to take over Liaoning Baifeng, a Chinese drug firm, for 18 billion won.

With the acquisition, Daewoong also plans to build a pharmaceutical factory in Shenyang, a northeastern Chinese city, by the end of 2017 and produce drugs, including antibiotics, at the plant startin...