April 17, 2024

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[THE INVESTOR] South Korea’s pharmaceutical company Handok signed a deal to buy a controlling stake in Theravalues Corp., a Japanese functional raw material firm, for 21.12 billion won (US$18.56 million) on Nov. 7.

Through the acquisition, Handock seeks to implement a vertical integration strategy of its consumer health care business as Theravalues has partnered with the Korean firm to develop and supply key materials for its products such as hangover cure drink Ready Q.

After the transaction, Handok will hold 67.9 percent stake, or 2,375 shares, in Theravalues.

Established in 2007, Theravalues has been focusing on developing functional raw material like Theracumin, an absorption-enhanced form of curcumin, and sells them to domestic and foreign health care companies in 11 countries. Overseas sales account for more than 80 percent of the firm’s total revenue.

Handok said Theravalues will remain independent and maintain existing management after the acquisition.

By Park Han-na (hnpark@heraldcorp.com)