Novartis completed the acquisition of Chong Kun Dang Pharmaceutical for 1.3bn.

Novartis, a multinational pharmaceutical company, completed the acquisition of Chong Kun Dang Pharmaceutical, a pharmaceutical company, for 1.3bn. This is the largest-ever out-licensing deal for the Korean pharmaceutical company since its inception more than eight decades ago, as well as this year's largest Korean pharmaceutical industry deal.