Celltrion to Build Plant in China - (The Korea Bizwire via NewsPoints Desk)

  • Celltrion plans to build a plant in China, with company chairman Seo Jung-jin saying "we are in the final stage of signing a contract with the Chinese government [and]...will soon announce details," reported The Korea Bizwire.

  • The company is looking to build a plant with a production capacity of 120,000 liters in China to boost capacity amid rising demand, and according to Celltrion, it will be the largest production facility in the country. 

  • According to the news source, the business plan deviates from Celltrion's earlier plan to set up a joint venture, dubbed Vcell Healthcare, with Hong Kong-based Nan Fung Group in China.

  • "Celltrion will eventually also set up [a] direct-sale system in China," Seo said, adding that "a portfolio of 16 products that are tailored for the Chinese market will be set up by 2030."

  • Meanwhile, Seo indicated that Celltrion will also tap into the global diabetes market, saying "we will eventually co-develop an insulin biosimilar through a 'license-in' method."

  • The chairman also noted the possibility of merging Celltrion with its affiliates, Celltrion Healthcare and Celltrion Pharma, on the condition that company shareholders want the plan.

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