Celltrion completes acquisition of US biopharmaceutical plant

Celltrion Inc., a major Korean biopharmaceutical company, has completed the acquisition of a biopharmaceutical manufacturing plant in the United States, the company said Friday, paving the way for local contract manufacturing deals under tariff-free conditions. Celltrion USA Inc., the company's U.S. unit, finalized the deal to acquire the 460 billion-won ($317 million) facility in New Jersey from U.S. drugmaker Eli Lilly and Company (LLY), the company said in a press release. Following the acquisition, Celltrion has signed a contract manufacturing organization (CMO) agreement worth 678.7 billion won to produce biopharmaceutical products for Eli Lilly for three years through 2029, it added. "The U.S. acquisition was aimed at proactively responding to rapidly changing biopharmaceutical markets. The company plans to expand the facility to secure additional global CMO contracts," a company official said. On Wednesday, Celltrion projected its annual operating profit would exceed 1 trillion won for the first time this year, driven by strong sales of high-margin biosimilar products. In his New YWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times