SEOUL, November 03 (AJP) - South Korean biopharmaceutical company Celltrion said Monday that it has received approval from the Irish government for its planned acquisition of Eli Lilly’s manufacturing facility in the United States, leaving only U.S. regulatory clearance before the deal can close.
The Competition and Consumer Protection Commission of Ireland granted final approval for the purchase on Oct. 31, according to Celltrion. The deal requires the review under Irish competition law because it involves an Eli Lilly subsidiary that generates revenue in Ireland. Celltrion’s U.S. subsidiary is now seeking to acquire the New Jersey-based plant from Eli Lilly for about $330 million.
Celltrion said the approval was granted swiftly thanks to what it called “effective communication and the anticipated benefits of the acquisition.”
With U.S. approval now the final step, the company said it has encountered no significant issues in the acquisition process so far. "We will diligently prepare for the remaining steps to secure approval promptly," the company said in a press release.
Celltrion aims to complete the deal by the end of the year, positioning the acquisition as part of its strategy to reduce tariff risks and strengthen global supply chain resilience amid geopolitical uncertainty. The company said it plans to integrate local production, packaging, logistics and sales to enhance operational efficiency.
The company described the purchase as a “key driver” for expanding its global production capacity and boosting shareholder value.
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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