South Korean pharmaceutical giant Yuhan has established a subsidiary in Australia to expand its global clinical network and drug development pipelines.
The subsidiary, Yuhan ANZ, was launched in June. Some 2 billion won ($1.6 million) was reportedly invested for the project.
The company said Australia is one of the countries with bright prospects for the pharmaceutical market, given its increasing demand for medical products.
“Launching a subsidiary in Australia is a part of our efforts to expand (drug development) pipelines,” said an official from Yuhan. “Specific business plans have yet to be determined.”
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Yuhan corporation. |
