-The remainder of the acquisition price is paid, bringing to completion all acquisition procedures for the share
transfer agreement.
-A new board of directors has been formed, and Dr. IM Geun-jo is appointed CEO.
Dong-A Pharmaceutical completed all the procedures required to wrap up the share transfer agreement with
Samchully Pharmaceutical by paying up the remainder of the price through EuChem as planned on June 14.
A new board of directors was formed the same day, with Dr. IM Geun-jo being appointed as representative
director. Dr. Im has been at the helm of EuChem, an affiliate of Dong-A, which is a specialized developer and
supplier of Active Pharmaceutical Ingredient (“API”) and organic compounds and the production thereof. He
announced Vision 2014, which expresses his aspiration to make the company a trusted global player in API
and oligonecleotides by providing world-class materials.
“Following the conclusion of the share transfer agreement, EuChem will pursue integration of the two
companies,” says a Dong-A insider, adding, “We expect that a successful integration, which will mark the
finishing touches on the agreement with Samchully, will bring us one step closer to the delivery of one trillion
KRW in sales by enabling a steady supply of API and an increase in our export capability through the use of
Samchully’s cGMP facilities.”
