South Korea's Celltrion says is preferred bidder to acquire pharma company to offset US tariff risk

SEOUL, July 29 (Reuters) - South Korean pharmaceutical company Celltrion 068270.KS said on Tuesday that in a bid to offset the risk of U.S. tariffs it had become the preferred bidder to acquire an unnamed pharmaceutical company with a U.S. production facility.

Celltrion's CEO said it planned to invest 700 billion won ($503.78 million) in the factory.