Khiron Life Sciences Corp. (TSXV:KHRN) (OTCQX:KHRNF) (Frankfurt:A2JMZC) has completed the acquisition of Pharmadrug Production GmbH from Pharmadrug Inc. (OTCQB:LMLLF) (CSE:PHRX). The acquisition was previously announced on May 31, 2022, and was completed in accordance with its disclosed terms.
With the completion of the acquisition, Khiron has expanded its presence in Europe with an EU GMP-certified manufacturer and wholesaler and has gained a European manufacturing and distribution center for pharmaceuticals. The acquisition is an optimal complement for Khiron in Europe and is in-line with its economic asset-light strategy. As Khiron Europe's own wholesaler, the target will promote and sell Khiron's products directly to German pharmacies, which enables Khiron to control the whole value chain within the country and recognize an increased gross margin.
