Export-Import Bank of Korea to Provide 350 Billion Won Support for Celltrion's U.S. Production Facility Acquisition

The Export-Import Bank of Korea announced on November 25 that it will provide 350 billion won in financing for Celltrion's acquisition (M&A) of Eli Lilly's production facility in the United States. The bank explained that, with this financial support, Celltrion will be able to establish an integrated production and sales system in the United States, the world's largest pharmaceutical market.

The United States is the second-largest market after Europe in the field of biosimilars (biopharmaceutical generics), where domestic bio companies have been excelling.

The Export-Import Bank of Korea stated that it is actively supporting the global competitiveness of K-Bio by providing programs such as the "Advanced Strategic Industry Preferential Support Program" to assist Korean bio companies.

A representative from the Export-Import Bank of Korea said, "Through this acquisition of a production facility, Celltrion will be able to establish a stable supply chain, avoiding risks such as trade conflicts and logistics crises, and expand its local sales base. As a leading player in K-Bio, Celltrion is also expected to contribute to the development of the related industrial ecosystem by fostering co-growth between 'anchor-biotech' (leading conglomerates and innovative bio ventures)."

원본보기 아이콘

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.