- SK bioscience acquires a 60% stake in IDT Biologika for 339 billion won ($243.9 million).
- The acquisition strengthens SK bioscience’s manufacturing capabilities in the U.S. and European markets.
SK bioscience has acquired a controlling stake in IDT Biologika, a German contract development and manufacturing organization (CDMO), for 339 billion won ($243.9 million). The deal, finalized through an agreement with the Klocke Group, gives SK bioscience 60% of IDT Biologika’s shares.
Founded in 1921, IDT Biologika operates in Germany and the U.S., specializing in the development and production of vaccines and biologics from clinical to commercial stages. The company employs around 1,800 professionals and serves as a key manufacturing partner for pharmaceutical and biotech firms worldwide.
The acquisition includes new shares worth $80 million (111.4 billion won) through a capital increase. Upon completion, SK bioscience will become the largest shareholder of IDT Biologika, while the Klocke Group retains a 40% stake. The Klocke Group will also invest 76 billion won to acquire a 1.9% share in SK bioscience, fostering a partnership based on mutual growth.
According to SK bioscience, this acquisition represents the largest investment in Korea’s vaccine sector to date. The company anticipates immediate benefits, including a potential doubling of revenue and the establishment of a comprehensive manufacturing network that meets the standards of the U.S. and European markets.
Following the acquisition announcement, SK bioscience’s shares rose sharply, reaching 56,300 won, up 14.08% from the previous trading day.
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