September 12, 2024

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Celltrion Pharm's company logo (Celltrion)

South Korean biopharmaceutical firm Celltrion Pharm unveiled Monday a new vision to become one of South Korea’s top five pharmaceutical companies by 2023.

Under Vision 2030, Celltrion Pharm said the company aims to make a quantum leap by enhancing its core business strengths and implementing differentiated growth strategies across its manufacturing, research and sales divisions.

Celltrion plans to boost production at its Cheongju plant, which holds Good Manufacturing Practice certifications from the US, Europe, Japan and Brazil. Currently producing up to 16 million syringes annually, including prefilled syringes, the company aims to triple this capacity to meet growing demand.

In research and development, Celltrion will focus on advancing its capabilities in developing antibody-drug conjugates for cancer therapies and innovative drug platforms.

The newly reorganized R&D team at the Songdo Global Biotech Research Center will drive these efforts, focusing on drug development and revenue growth through technology licensing.

Celltrion also plans to significantly expand its product lineup, aiming to increase the number of biosimilars, including Remsima and Yuflyma, in the domestic market from six to 22 by 2030. New treatments for autoimmune diseases, ophthalmic conditions and allergic asthma are also set for imminent release, following their domestic approvals.

The company said it will also strengthen its chemical pharmaceuticals portfolio by developing high-value products through in-house research and technology acquisition.

“We have seen a doubling of revenue over the past five years with balanced growth across all business sectors,” a Celltrion official said. “We will continue to maintain our growth and become one of Korea's top five pharmaceutical companies by 2030.”

By Park Li-na (linapark@heraldcorp.com)