Celltrion acquires iQone Healthcare to bolster business in Europe

Celltrion CI

Celltrion Inc. announced on Friday that its Hungarian subsidiary has acquired Swiss pharmaceutical distributor iQone Healthcare Switzerland for about 30 billion won ($21.3 million).

The acquisition will integrate iQone as a subsidiary, aimed at enhancing operational efficiency and marketing synergies, the company said.

The acquisition gives Celltrion access to iQone‘s established distribution network and specialized workforce in Switzerland.

The Swiss pharmaceutical market, known for its relatively large size compared to its population and high drug prices, is expected to offer significant revenue growth potential for Celltrion.