Vivozon Healthcare Changes Name to 'Vivozon Je-yak'... Merger Process Completed

[Asia Economy Reporter Lee Gwan-joo] Vibozone Healthcare, which changed its company name to Vibozone Pharmaceutical, announced on the 1st that it has completed the absorption merger procedure of its subsidiary Vibozone Pharmaceutical. The merged company Vibozone Healthcare will remain as the surviving company, and the absorbed company Vibozone Pharmaceutical will be dissolved.

The company explained the merger as a move to strengthen corporate competitiveness and maximize shareholder value through the integration of pharmaceutical and bio businesses. Vibozone Pharmaceutical plans to fully enter the finished drug business and accelerate the development and expansion of its pipeline, including the non-narcotic analgesic Opiranjerin. It also aims to alleviate concerns about going concern and maximize shareholder value through scale expansion and profitability improvement.

A Vibozone Pharmaceutical official stated, “We will integrate the human and material resources of both companies to enhance business synergy,” and added, “This merger will accelerate the development of Opiranjerin topical and injectable formulations and strengthen competitiveness from manufacturing to distribution and sales.”

Meanwhile, Vibozone Healthcare changed its company name to Vibozone Pharmaceutical and newly appointed Jang Boohwan, Vice President of Vibozone Pharmaceutical, as an inside director at the shareholders' meeting held on the 27th of last month.

This content was produced with the assistance of AI translation services.