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North Chungcheong Province Signs Agreement with French Pharmaceutical Firm

The North Chungcheong provincial government, Shin Poong Pharm, and LFB signed a strategic alliance agreement last Monday. LFB is a state-owned French pharmaceutical company.

Korea’s Shin Poong Pharm and France’s LFB will establish a joint venture company with an investment of USD 42 million to construct a biopharmaceutical manufacturing plant in the Osong Biovalley in North Chungcheong Province by 2015.

“LFB develops, produces, and distributes medicines used to treat rare high-risk diseases,” said a provincial official.

Source Text

Source: Newsis (Mar. 25, 2013)

** This article was translated from the Korean.