Seo Jung-jin "Direct Entry into China... Will Establish Factories and Sales Networks"

Celltrion Group Chairman Seo Jung-jin is explaining the '2030 Vision Roadmap' at the JP Morgan Healthcare Conference held in San Francisco, USA, on the 15th (local time).

[Asia Economy Reporter Choi Dae-yeol] Seo Jung-jin, Chairman of Celltrion Group, announced plans to build a factory in China, the world's second-largest biopharmaceutical market, and to establish a direct sales network there.

On the 15th (local time), Seo revealed these plans and other ideas at the JP Morgan Healthcare Conference held in San Francisco, USA. Seo stated, "We plan to construct the largest biopharmaceutical production facility in China with a capacity of 120,000 liters and establish a direct sales network," adding that final contract agreements with local Chinese governments are underway.

China is considered the world's second-largest pharmaceutical market after the United States. Seo disclosed plans to build a portfolio of 16 products by 2030, including production plans for the local market and large-scale CMO (Contract Manufacturing Organization) projects. Celltrion had previously received approval from the China Food and Drug Administration in 2017 to conduct clinical trials for Remsima. Celltrion is the first foreign company to obtain clinical approval for biosimilars in China.

The JP Morgan Conference is an event where key global pharmaceutical and biotech industry stakeholders and investors gather. Celltrion was assigned the main venue, the Grand Ballroom, where Chairman Seo personally presented. Seo emphasized that Celltrion leads the market with an 81% share in the total monoclonal antibody biosimilar market, recording $1.418 billion in prescriptions in 2018. He also highlighted the cost-saving benefits of the group directly managing all areas of pharmaceuticals, including research and development, clinical trials, approvals, manufacturing, and sales. Leveraging these strengths, Seo introduced the group's mid- to long-term plans to promote various biosimilars, prime similars, new drugs, and U-healthcare (a concept applying ubiquitous remote medical services) by 2030.

Specifically, Seo pointed to RemsimaSC, the first subcutaneous injection form of the infliximab biosimilar. RemsimaSC is the only subcutaneous injection formulation among infliximab drugs and is used to treat inflammatory bowel disease, rheumatoid arthritis, and autoimmune diseases. Seo projected that it would capture a 20% share of the 50 trillion KRW market, creating a new market worth 10 trillion KRW. Starting next month, a global direct sales system will be established, beginning with Germany.

Celltrion is also entering the diabetes market. Seo announced plans to develop insulin biosimilars and stated that through technology acquisition and both independent and joint development, the company aims to enter the global diabetes market valued at $40 billion (46.5 trillion KRW). He said, "With world-class research and development and manufacturing capabilities unique to Celltrion Group, we will do our best to become a leading global pharmaceutical and biotech company."

This content was produced with the assistance of AI translation services.