Monday, August 24
SEOUL: South Korea's Samsung Biologics said on Monday it is acquiring its first U.S. drug production facility from GSK for $280 million to respond to long-term U.S. market demand. The company's U.S. unit, Samsung Biologics America, is acquiring a 100% stake in Human Genome Sciences Inc of Rockville, Maryland, the South Korean contract drug manufacturer said in a statement. Samsung Biologics plans additional investments to expand the site's capacity, currently a combined 60,000 liters of drug substance capacity, and to upgrade technology, it said. It added that the acquisition value may change when the deal closes, likely around the end of the first quarter of 2026. South Korea's Celltrion is also planning to produce drugs in the United States, where the Trump adm
Ambuja Cements Ltd, part of the Adani Group, on Monday said its board has approved separate schemes of amalgamation to merge ACC Ltd and Orient Cement Ltd into Ambuja, a move aimed at creating a single, consolidated cement platform with nationwide scale and operational efficiencies. The proposed consolidation is expected to be completed over the next year. Once implemented, Ambuja, ACC and Orient Cement will operate under a unified corporate structure, while their existing brands will continue to be marketed in their respective regions. Announcing the decision, Ambuja said the merger would deliver significant operational and financial synergies by optimising manufacturing and logistics networks, simplifying the corporate structure and enabling more efficient capital allocation. The company
