Dongwon Industries to acquire Boryung Biopharma (terminated)
- Deal value
- —
- Stake
- —
- Implied 100%
- —
- Revenue
- $110m
- Op. income
- $11m
- Multiples
- —
2022 연결 · DART-verified
2022 연결 · DART-verified
DART 20230411000812
- Target
- Boryung Biopharma · Vaccines & biopharma
- Buyer
- Dongwon Industries · SI
- Seller
- Boryung Partners
- Structure
- —
- Announced
- Feb 23, 2023
- Closed
- —
- Stage
- Terminated
Target
Vaccine maker founded in 1991 within the Boryung group, producing Japanese encephalitis, influenza, DTaP-IPV and hepatitis A vaccines at its Jincheon plant, plus prescription drugs, genomic testing and a cord-blood bank. Boryung Partners held 69.29%.
Deal rationale
Dongwon Industries disclosed an MOU with Boryung Partners on 23 Feb 2023 but no direct statement of purpose appears in the sources. Reports said Boryung switched from a 2022 IPO to a sale amid weak markets, with Medigate interpreting the move as prioritising proper valuation. Dailypharm reported the 22 Mar 2023 withdrawal of exclusive due diligence was seen as due to an unresolved gap on price, citing IB estimates of KRW 450-500bn (buyer) versus KRW 500-650bn (seller).
| Revenue | $110m |
| Operating income | $11m |
| EBITDA | — |
| Net income | — |
2022 연결 · DART-verified · 20230411000812
Press coverage
- 데일리팜 (2023-02-24): “동원그룹, 보령바이오파마 품나…인수 MOU 체결”
- 메디게이트뉴스 (2023-02-23): “보령파트너스와 양해각서를 체결”
- 데일리팜 (2023-03-22): “단독실사권 철회 이유는 양사 간 인수·매각대금에 대한 입장 차를 극복하지 못했기 때문인 것으로 관측된다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.