Celltrion decides not to persue merger with Celltrion Pharm

Celltrion Inc. CI

South Korean biopharmaceutical company Celltrion Inc., which recently merged with group subsidiary Celltrion Healthcare Co. to create business synergy, announced on Friday that it decided not to merge with Celltrion Pharm Inc., another listed company within the group.

Celltrion said that the boards of directors of both companies formed a special committee comprised of external directors to examine whether to proceed with the merger and concluded not to proceed.