DLA Piper advises Celltrion on Eli Lilly production facility purchase

DLA Piper guided Celltrion Inc., a South Korean biopharmaceutical company, in its purchase of a drug substance plant in the United States from Eli Lilly for US$330 million.

Celltrion expects existing contracts at the site will “provide immediate revenue streams and accelerate recovery of invested capital.” The acquisition provides Celltrion with an important inroad and opportunity to expand into the US market where they expect material growth in the coming years. The deal is expected to close at the end of the year.

The cross-border deal was facilitated by DLA Piper teams in the US and Korea, and included Partners Sang Kim, Emilio Ragosa, Fahd Riaz, Daniel Lee, and Jang Hyuk Yeo, Senior Associate Robert Song, and Associates Brian Cadousteau and Patrick Cullen, as well as attorneys from practice groups across the firm.

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