Celltrion to finalize merger decision with its pharma affiliate on Friday

[Courtesy of Celltrion Inc.]

Celltrion is set to hold a board meeting this Friday to reach a final decision on its potential merger with Celltrion Pharm. On Tuesday, Celltrion posted an announcement on its website titled “Response to shareholder inquiries regarding the merger review schedule,” saying that the company had concluded gathering shareholder opinions on the merger as of August 12. The survey collected input from individual shareholders, domestic and international institutions, and the results are currently being tallied.

The announcement also noted that a special committee, composed entirely of outside directors, has been reviewing the overall impact of the merger, considering factors such as the results of the survey, synergies, risks, and external evaluations. The findings will be reported to the board on August 16.

Celltrion and Celltrion Pharm both established their respective “Phase 1 Special Committee for Merger Feasibility Review” on July 31, composed entirely of outside directors, to assess the validity of the merger. The companies also conducted a survey of all shareholders to gauge their stance on the merger, which concluded on Tuesday. The results of this survey are currently being compiled.

Celltrion added that it will announce the final decision on its website as soon as it is made during the upcoming board meeting.