SEOUL (Reuters) -Celltrion Inc. said in a regulatory filing in South Korea on Tuesday its U.S. subsidiary has acquired Imclone Systems LLC from Eli Lilly in the United States for $330 million. In a statement, Celltrion said it aimed to complete the factory acquisition process by year-end in cooperation with its partner. After upgrades and […]
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Celltrion unit pays $330 million for Eli Lilly production facility, filing shows
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SEOUL (Reuters) -Celltrion Inc. said in a regulatory filing in South Korea on Tuesday its U.S. subsidiary has acquired Imclone Systems LLC from Eli Lilly in the United States for $330 million.
In a statement, Celltrion said it aimed to complete the factory acquisition process by year-end in cooperation with its partner.
After upgrades and expansions to the facility, both key products the company sells in the United States and future launches will be shielded early from U.S. tariff exposure.
(Reporting by Jack Kim and Heekyong Yang; Editing by Clarence Fernandez)