(LG Household & Health Care)
LG Household & Health Care said Tuesday it has gained a business license to sell GlaxoSmithKline’s skin care brand Physiogel in Asia and North America, for 190 billion won ($155 million).
Physiogel is a derma cosmetics brand that was launched in Germany, and is sold in a number of countries in Asia, Europe and South America.
The company said it plans to strengthen its presence in the global markets with its acquirement of Physiogel, which comes after the company’s takeover of CNP Cosmetics in 2014. LG Household & Health took over the local cosmeceuticals firm to develop it into a brand worth 100 billion won.
The cosmetics firm said it plans to introduce Physiogel in the three beauty markets of the US, China and Japan, and also obtain the marketing rights in Turkey, Georgia, Armenia and Azerbaijan.
By Jo He-rim (firstname.lastname@example.org