Daesang said on the 18th that it acquired AMINO GmbH, a German corporations specializing in pharmaceutical amino acids. The move signals a full-fledged entry into the global pharmaceutical and biotech market.
According to Daesang, the headquarters will acquire 100% equity of Amino for about 50.2 billion won. The company is currently proceeding with related approvals. It plans to complete the acquisition process by Mar.
Amino is a corporations specializing in pharmaceutical amino acids founded in 1958. It produces amino acids needed to manufacture medical infusion solutions, medical nutrition, and cell culture media and excipients for biopharmaceuticals. It currently operates a research institute and a total of three production plants (about 6,000㎡) in the northern German region of Prellstaedt, and has established stable transaction relationships with global large biopharmaceutical corporations and medical nutrition companies.
Daesang plans to enter the amino acid market through this acquisition. The pharmaceutical amino acid market is growing 10% annually as demand for infusion solutions and medical nutrition increases with the entry into an aging society and the expansion of medical infrastructure. In particular, as the biopharmaceutical market for protein, gene, and cell therapies rapidly expands, demand for cell culture media, excipients, and reagents that require amino acids is also increasing, making it a field evaluated as having high growth potential.
With this acquisition, Daesang will secure the purification technology built over 67 years, European licensing capabilities, and the manufacturing facilities and equipment held by Amino. It also plans to leverage Amino's global network of large transaction clients to maintain its existing market share in Europe while expanding its business scope to North America and Asia.
Daesang CEO Lim Jeong-bae said, "This acquisition is a strategic investment to expand our business scope into the high value-added pharmaceutical and biotech market based on the amino acid technology accumulated in our existing materials business," adding, "We will secure competitiveness in the pharmaceutical amino acid market through Amino's technological prowess and global network."