Boryung to Spin Off Sales Division, Establishing Boryung Pharma Solution [Disclosure]

[Financial News] Boryung has decided to spin off its sales division to respond to changes in the pharmaceutical market.
Boryung announced on the 15th that it would carry out a simple physical spin-off of its prescription-only medicines (ETC) sales division and establish Boryung Pharma Solution.
Boryung Pharma Solution will be established as an unlisted company, with Boryung receiving 100% of the shares in the newly established entity.
The new company is scheduled to launch on January 4 next year following an extraordinary general meeting of shareholders on October 28. As of the end of June, it had assets of KRW 57 billion, liabilities of KRW 13.3 billion, equity of KRW 43.6 billion, and paid-in capital of KRW 1 billion.
Boryung explained the rationale for the spin-off, saying, "Each company will pursue greater expertise and advancement in its respective business area, respond quickly to growing opportunities arising from changes in the domestic pharmaceutical market and the external environment, make swift decisions, and proactively address change."

[email protected] Minji Seo Reporter