Company: OSRH
Filing Date: 2025-06-23
Form Type: 424B3
Source: 0001213900-25-056351
Chunk: 82

Company: OSR Holdings, Inc.
Filing Date: 2025-06-23
Form: 424B3
Chunk 82
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 combinations |

The Parent acquired Darnatein (a novel
drug development company) (referred as the “Acquiree” herein) as it executes on its business plan to further expand its business
by discovering and investing in innovative healthcare companies with cutting-edge technology and creating operating synergies between
subsidiaries. As the Parent and the Acquiree former owners exchanged only equity interests in business combination transactions and the
acquisition-date fair value of the Parent’s equity interests could not reliably be measured, the Parent determined the amount of
goodwill by using the acquisition-date fair value of the Acquiree equity interests instead of the acquisition-date fair value of the shares
transferred.

Vaximm (2022 acquisition) and Darnatein
can be reasonably categorized as “(bio)platform companies” which differ from the companies only with drug development pipelines.
Bioplatforms can be defined as biotechnologies that, once created and harnessed, allow for the intentional and repeatable generation of
multiple medicines or agricultural and sustainability products. Both Vaximm and Darnatein are biotech companies whose drug R&D pipelines
are based on their own in-house platform technologies that are protected by either patents or trade secrets. According to the “hub-and-spoke”
business model of OSR Holdings, the Parent has assumed the position to either own or control the technology platforms of Vaximm and Darnatein
through the Business Combinations, which means that the Parent will be able to launch new services to external clients or create additional
drug candidates by a new start-up or Joint Venture with business partners based on their direct ownership or control over the platform
technologies acquired from the Business Combinations. Such quality would support the goodwill recognition.

Details of business combinations that
occurred for the three months ended March 31, 2025 and 2024 are as follows:

|           |     |                            |     | For the year ended December 31, 2023 |     |           |       |   |     |               |            |
|:----------|:----|:---------------------------|:----|:-------------------------------------|:----|:----------|------:|:--|:----|:--------------|-----------:|
| Acquiree  |     | Main business              |     | Acquisition date                     |     | Ownership 
 (%)       |       |   |     | Total         
 consideration |            |
| Darnatein |     | New drug development, etc.