Hanil Pharm, CJ to exchange MOU for possible merger

Hanil Pharm said that its company union, the largest shareholder of the insolvent firm, signed a memorandum of understanding with CJ on January 2 for the latter's possible acquisition.

The union designated CJ as the favored bidder, thus allowing CJ wider access to Hanil's financial records through execution of the LOI on December 19 of last year.