Bio & Pharma
Celltrion to expand new plant for drug products
The new facility with an annual capacity of 8 mn liquid vials will operate starting in 2027
By Sep 05, 2023 (Gmt+09:00)
1
Min read
Most Read
LG Chem to sell water filter business to Glenwood PE for $692 million


Kyobo Life poised to buy Japan’s SBI Group-owned savings bank


KT&G eyes overseas M&A after rejecting activist fund's offer


StockX in merger talks with Naver’s online reseller Kream


Mirae Asset to be named Korea Post’s core real estate fund operator



South Korean biopharmaceutical firm Celltrion Inc. announced on Tuesday that it plans to enlarge its finished pharmaceuticals manufacturing facility at the Songdo campus in Incheon. The expansion aims to proactively address rising sales demand.
Scheduled for completion by early 2026 with production set to begin in 2027, the new factory will boast an annual output capacity of around 8 million liquid vials. The company has earmarked about 126 billion won ($95 million) for this investment.
Celltrion anticipates that the expanded facility will not only bolster the stability of its product supply but also substantially reduce costs, particularly as revenues grow. The company estimates a cost-saving benefit of about 30% compared to the unit costs of products currently produced under contract manufacturing agreements.
The new plant will work in tandem with existing production lines, thereby creating a more concentrated and efficient manufacturing system.
"The purpose of the new facility is to internalize more of our production processes, which will reduce costs and enable us to respond more effectively and swiftly to a growing demand for our existing and pipeline products," a Celltrion source said.
The company added that should the surge in sales continue, it will contemplate further expansions to cement its sustainable growth trajectory.
Write to Yoo-Rim Kim at youforest@hankyung.com
More to Read
-
Bio & PharmaCelltrion to release Stelara biosimilar in US from March 2025
Aug 25, 2023 (Gmt+09:00)
1 Min read -
Bio & PharmaCelltrion considers listing holding firm after merger of 3 units
Aug 24, 2023 (Gmt+09:00)
2 Min read -
Bio & PharmaCelltrion’s Vegzelma listed on prescription of 10 private US insurers
Aug 23, 2023 (Gmt+09:00)
1 Min read -
Bio & PharmaCelltrion gets OK partial approval for phase 3 of biosimilar in Europe
Aug 22, 2023 (Gmt+09:00)
1 Min read
Comment 0
LOG IN