Merck KGaA to Open $326 Million Pharmaceutical Plant in South Korea to Expand in Asia

By David Sachs

Merck KGaA will spend more than 300 million euros ($326 million) on a pharmaceutical plant in South Korea as part of its strategy to expand in Asia.

The German drug-and-chemicals company said Wednesday that the plant will add 300 jobs. The Daejeon facility will serve biotech and pharmaceutical companies that develop, research and manufacture medical treatments like vaccines and cell, gene, and protein-based therapies, Merck said.

The production site will bring the firm closer to customers in an expanding market and should speed up the process of bringing new treatments from the development phase to commercialization, the firm said. Merck's investment is the largest to date by its life-sciences division in the Asia-Pacific region.

Write to David Sachs at [e-mail]

(END) Dow Jones Newswires

03-20-24 1142ET