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Samsung BioLogics flouted accounting rules, says regulator

South Korean drugmaker disagrees and hints at lawsuit

The Samsung group counts Samsung BioLogics as a key member of the sprawling conglomerate.   © Reuters

SEOUL -- A South Korean financial watchdog said Thursday that contract drug manufacturer Samsung BioLogics violated accounting rules, recommending the dismissal of executives and a referral to prosecutors.

The Securities and Futures Commission has been investigating the Samsung group member's accounting practices concerning a joint venture with U.S. pharmaceutical company Biogen.

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