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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