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Handok buys Amore Pacific's pharmaceuticals business

4:49 AM MST | December 13, 2013 | Natasha Alperowicz

Handok (Seoul) announced today that it has agreed to buy the pharmaceuticals business of Korea’s leading cosmetics company Amore Pacific (Seoul). Handok agreed to pay 57.5 billion Korean won ($54.5 million) for Pacific Pharma, a wholly owned unit of Amore Pacific. The companies plan to complete the deal on 14 February 2014. Amore Pacific plans to focus on its beauty and health products. Handok said that the acquisition will create synergy with its existing pharma business. The company, which will next year celebrate its 60th anniversary, says that the...

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