This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
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[Alpha Biz=(Chicago) Reporter Kim Jisun] Daewoong Pharmaceutical announced on the 8th that it will sell about 427,000 shares of its own company to its parent company Daewoong to secure 50 billion won in R&D funds and actively invest in future growth.
Daewoong Pharmaceutical has secured cash liquidity worth 50 billion won without interest burden due to the disposal of its own shares. Daewoong Pharmaceutical plans to accelerate global innovative new drug development and open collaboration with the cash secured this time.
It also plans to build new plants to produce Nabota, which is in demand in the global market, to expand the global toxin market more aggressively.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
