South Korea’s LG Chem to invest US$566 million to acquire US Aveo Pharmaceuticals

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South Korea's LG Chem to invest US$566 million to acquire US Aveo Pharmaceuticals

SEOUL: South Korea’s LG Chem said in a regulatory filing on Tuesday (Oct 18) that it is investing US$566 million to acquire US firm Aveo Pharmaceuticals Inc and enter the U.S. anti-cancer drug market.

The deal is expected to close in the first quarter of 2023, LG Chem said.