Celltrion Acquires Swiss Pharmaceutical Distributor to Secure Local Distribution Network and Workforce

Daegum, Approximately 30 Billion KRW in Scale

Celltrion has acquired the Swiss pharmaceutical distributor 'Icon'.

Incheon Songdo Celltrion Plant 2 Overview. / Incheon - Photo by Hyunmin Kim kimhyun81@

On the 15th, Celltrion announced that the acquisition of Icon was completed this month, with the acquisition cost amounting to approximately 30 billion KRW.

The acquisition was made through Celltrion's Hungarian subsidiary, incorporating Icon as a subsidiary. Celltrion explained that this structure was chosen considering operational efficiency and marketing synergy.

Through this acquisition, Celltrion will secure distribution networks and professional personnel established locally in Switzerland.

Switzerland has formed a relatively large pharmaceutical market compared to its population size and is evaluated to have high potential for sales expansion due to high drug prices.

Yoo Min-hyuk, head of Celltrion's European Business Division, said, "This acquisition of Icon is meaningful in that we pursued European business expansion by acquiring a competitive local company."

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