Celltrion sets sights on becoming leading new drug maker through M&A activities
Key Highlights :
1. Celltrion plans to become a leading new drug maker and launch a series of merger and acquisition (M&A) activities to diversify its business portfolio.
2. The chairman revealed the vision in order to achieve stable growth for the company.
3. Celltrion has expanded partnerships in recent years to secure new drug platform technology.
4. In January, the company became the largest shareholder of the U.K.-based antibody-drug conjugates developer Iksuda Therapeutics through a joint investment with Mirae Asset Group.
5. The press conference was Seo's first official event a day after he was voted in as a co-chair of the boards of the group's three companies ― Celltrion, Celltrion Pharm and Celltrion Healthcare ― during Tuesday's shareholders' meeting.
6. In early March, Celltrion announced Seo would return to management, two years after he resigned from management in March 2021, to let the founder serve a critical role in saving the biotechnology group.
Celltrion, a leading biotechnology company in South Korea, has announced its plan to diversify its business portfolio and become a leading new drug maker through a series of merger and acquisition (M&A) activities. The company's chairman, Seo Jung-jin, revealed the vision during his first official event after being voted in as a co-chair of the boards of Celltrion, Celltrion Pharm, and Celltrion Healthcare.
The move towards M&A activities is aimed at achieving stable growth for the company and expanding its partnerships to secure new drug platform technology. In recent years, Celltrion has been expanding its partnerships with various companies to diversify its business portfolio and achieve sustainable growth.
In January, the company became the largest shareholder of the U.K.-based antibody-drug conjugates developer Iksuda Therapeutics through a joint investment with Mirae Asset Group. This investment is seen as a strategic move for Celltrion to strengthen its pipeline in the field of oncology.
Celltrion has already established a strong presence in the biosimilar market with its biosimilar products, including Remsima and Truxima. However, with the recent developments in the biotechnology industry, the company sees an opportunity to expand its business portfolio into new drug development.
The press conference where Seo made the announcement was held ahead of a series of Enquiry Missions of the Bureau International des Expositions, where the company plans to showcase its capabilities in green transportation and technology. The Enquiry Missions, comprised of key BIE officials and member states, will be visiting South Korea to review the feasibility and viability of holding the World Expo 2030 in Busan.
In conclusion, Celltrion's plan to become a leading new drug maker through M&A activities is a strategic move towards diversifying its business portfolio and achieving stable growth. The company has already established a strong presence in the biosimilar market and plans to expand its capabilities in new drug development through strategic partnerships and acquisitions. The Enquiry Missions visit presents an opportunity for Celltrion to showcase its capabilities in green transportation and technology, further solidifying its position as a leading biotechnology company in South Korea.
The move towards M&A activities is aimed at achieving stable growth for the company and expanding its partnerships to secure new drug platform technology. In recent years, Celltrion has been expanding its partnerships with various companies to diversify its business portfolio and achieve sustainable growth.
In January, the company became the largest shareholder of the U.K.-based antibody-drug conjugates developer Iksuda Therapeutics through a joint investment with Mirae Asset Group. This investment is seen as a strategic move for Celltrion to strengthen its pipeline in the field of oncology.
Celltrion has already established a strong presence in the biosimilar market with its biosimilar products, including Remsima and Truxima. However, with the recent developments in the biotechnology industry, the company sees an opportunity to expand its business portfolio into new drug development.
The press conference where Seo made the announcement was held ahead of a series of Enquiry Missions of the Bureau International des Expositions, where the company plans to showcase its capabilities in green transportation and technology. The Enquiry Missions, comprised of key BIE officials and member states, will be visiting South Korea to review the feasibility and viability of holding the World Expo 2030 in Busan.
In conclusion, Celltrion's plan to become a leading new drug maker through M&A activities is a strategic move towards diversifying its business portfolio and achieving stable growth. The company has already established a strong presence in the biosimilar market and plans to expand its capabilities in new drug development through strategic partnerships and acquisitions. The Enquiry Missions visit presents an opportunity for Celltrion to showcase its capabilities in green transportation and technology, further solidifying its position as a leading biotechnology company in South Korea.
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