South Korea’s biosimilars giant, Celltrion Inc., is gearing up to expand into the contract development and manufacturing organization (CDMO) sector, according to a company presentation this week. The announcement follows Celltrion’s founder and Chairman Seo Jung-jin’s remarks at the Morgan Stanley 22nd Annual Global Healthcare Conference last week. Seo revealed that the company is planning to establish a wholly-owned CDMO subsidiary, although no further specifics have been disclosed at this time.
This strategic move arrives as U.S. lawmakers are on the cusp of passing the U.S. Biosecurity Act, legislation that would restrict companies receiving U.S. federal funding from engaging with certain Chinese firms, including prominent CDMOs like WuXi AppTec and its subsidiaries. The impending law is anticipated to create new market opportunities in the CDMO space, potentially benefiting other South Korean biologics players such as Samsung Biologics Co., Lotte Biologics Co., and Medipost Co., a stem-cell therapy company. – Flcube.com
