Seeking to Acquire Addition Rights in Turkey, CIS

LG Household & Health Care announced on June 1 that it finalized a deal with global pharmaceutical company GlaxoSmithKline on May 29 to acquire the business rights for Physiogel in the Asian and North American markets for 125 million pounds (about 190 billion won). The company signed the contract on Feb. 20.

Physiogel is a derma cosmetics and personal care brand that started in Germany and sells in Asia, Europe and South America. In particular, it enjoys a high popularity in Korea.

LG Household & Health Care is planning to strengthen its global position within the fast-growing derma cosmetics category by securing the global derma brand Physiogel. In 2014, it acquired the CNP brand and has fostered it into a 100 billion-won brand.

The company plans to diversify its markets by expanding its portfolio of derma cosmetics and personal care products through the launch of various new Physiogel products based on its high recognition in Korea. It also plans to launch Physiogel in the United States, China, and Japan, the three major global beauty care markets, to foster it into a global derma brand. At the same time, it plans to acquire additional business rights for Physiogel in Turkey and the Commonwealth of Independent States (Georgia, Armenia, Azerbaijan).

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