Boryung Sales Subsidiary 'Boryung Pharma Solution' to Launch Next January

Extraordinary shareholders' meeting approves in-kind spin-off into wholly owned subsidiary
Approves treasury share disposal for employee compensation

Boryung said it held its 63rd extraordinary shareholders' meeting at Boryung Building in Jongno-gu, Seoul, on October 28, and approved as proposed a plan to spin off its ethical drug (ETC) sales division. A proposal approving its treasury share holding and disposal plan also passed.

The spin-off will leave the parent company, Boryung, as a listed company and create a new company, Boryung Pharma Solution, to oversee the ETC sales division as a wholly owned subsidiary. The effective date of the spin-off is January 4, 2027. Boryung Pharma Solution will handle domestic sales and marketing, product introductions, and distribution, while Boryung will focus on research and development, production, and global business.

Boryung held its 63rd extraordinary general meeting of shareholders on the 28th at Boryung Building in Jongno-gu, Seoul. Boryung

Boryung plans to add 26 of its own products and 16 introduced products by 2030. Under the plan, Boryung will handle research and development and production for the expanded product portfolio, while Boryung Pharma Solution will take charge of sales and marketing and performance management after launch.

"Even after the spin-off, shareholders will continue to benefit from the performance of both businesses through their Boryung shares," said Boryung CEO Kim Jeong-gyun. "We will fulfill management's responsibilities by allocating the resources each business needs and monitoring execution and results, so that the spin-off leads to Boryung's continued growth." He added, "There are no plans to list Boryung Pharma Solution."

At the meeting, shareholders also approved a proposal to dispose of 1,774,000 of the 3,597,096 treasury shares held by the company for employee compensation. Of these, 445,000 shares will be distributed as stock grants, with each of all 1,780 employees receiving 250 shares.

This content was produced with the assistance of AI translation services.