17 Jan AiroAV Malware Announces: Celltrion Chairman Seo Jung-jin unveils ‘2030 Vision Roadma…
Direct entry into the Chinese market, unveil a plan to develop insulin biosimilar for the first time.
Chairman Seo Jung-jin of Celltrion announced the “2030 Vision Roadmap,” which includes the group’s new growth engine, at the JPMorgan Healthcare Conference held in San Francisco on Jan. 15 (local time), and declared that the group would enter the Chinese market, the world’s second largest bio-medicine market.
Seo explained that Celltrion recorded $1.418 billion in terms of prescription value in the entire monoclonal antibody (mAb) biosimilar market in 2018, representing 81 percent of the market.
Considering the fact that the market share of the second-to-third-largest companies is 8 percent and 7 percent, respectively, Celltrion has dominated the related market with its global biosimilar “First Mover.”
Seo cited the first mover effect, which opened the biosimilar market, as well as all areas of medicine, ranging from R&D to clinical, licensing, manufacturing and sales, as well as cost savings from digesting all of them through group companies and strong long-term pipeline research and development capabilities as key capabilities of Celltrion Group.
Through this, Seo introduced the group’s future growth strategy on the “2030 vision road map,” which will be phased out by 2030, including biosimilars, new drugs and U-healthcare.
Seo said he expects Remsima SC to post a 20 percent market share in the TNF-α market, which is worth 50 trillion won, and create 10 trillion won in new markets. In particular, he stressed that it will start operating a global direct sales system starting with Germany in February this year.
The chairman also explained that the Celltrion Group plans to announce major details in the near future as it will make a direct foray into China and is now set to complete its final contract with the Chinese provincial government. He added it also plans to build the largest bio-medicine production facility in China with 120,000 liters of capacity and also establish a direct sales network.
In addition, he announced plans for biologic drug production and large-scale CMO for China’s domestic market by 2030 by establishing 16 product portfolios. Celltrion was previously approved by the China Food and Drug Administration (CFDA) in May 2017 for the Remsima clinical test and is currently undergoing clinical trials. This is the first time that a foreign company biosimilar has won a clinical trial in China.
Seo announced a plan to develop insulin biosimilar, and announced a roadmap for growth as an insulin biosimilar leader by advancing into a $40 billion worldwide diabetes market through its own and joint development and license-in.
“We will do our best to become a global pharmaceutical bio company through the strengths of Celltrion Group alone, including its world-class research and development and manufacturing production capabilities,” Seo said.
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