Celltrion launches subsidiary 'BioSolutions' for CDMO
By Cha Jihyun | translator Hong, Ji Yeon
24.12.18 05:42:48
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On December 17, Celltrion acquired 2 million shares of Celltrion BioSolutions for KRW 10 billion
To begin construction on the first plant with a 100,000-liter capacity next year…expected to generate sales by 2028
Plans to establish next-generation modality production facilities for multi-antibody therapies·antibody-drug conjugates (ADC) ·cell and gene therapies
▲Seo Jung-jin, chairman of Celltrion Group (source: virtual press conference photos).
Celltrion group launches Celltrion BioSolutions, a company specializing in drug contract development and manufacturing organization (CDMO). The company aims to build a manufacturing plant and research center next year and generate sales from 2028.According to the Financial Supervisory Service on December 17, Celltrion acquired 2 million shares of Celltrion BioSolutions for KRW 10 billion. After the acquisition of shares, Celltrion will secure 100% of the shares of Celltrion BioSolutions.
"We have decided to commence the CDMO business in September, considering increased demands for biological drugs globally and consistent requests for CDMO services from Korea and foreign markets," Celltri
Cha Jihyun(chaji@dailypharm.com)
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