SK Bioscience completed the acquisition of a 60% stake in IDT Biologika from Klocke Gruppe for $244m.

SK Bioscience, a biotechnology research services firm, completed the acquisition of a 60% stake in IDT Biologika, an innovative company in researching, developing, manufacturing and marketing products for the global protection of human and animal health, from Klocke Gruppe, a group of consolidated companies, working in the field of contract manufacturing and contract packaging, for $244m. "With the successful completion of IDT Biologika acquisition, we are rapidly stabilizing management as SK bioscience and IDT Biologika now unite one family. The capabilities of the two companies are expected to generate significant synergies, and we will accelerate our global expansion," Jaeyong Ahn, SK bioscience President and CEO.