Seo Jung-Jin, chairman of the Celltrion Group, said he will expand Eli Lilly's manufacturing plant in New Jersey over the next five years. At an online press briefing on the 19th, Seo said, "Products sold in the United States will be produced locally to eliminate tariff risks."
Celltrion said in September that it would acquire Eli Lilly's plant. After completing the acquisition process, the company will begin expanding bioreactor capacity to 66,000 liters. A total of 1.4 trillion won will be invested, including 700 billion won for the plant acquisition and initial operations and another 700 billion won for the expansion. Seo said, "Continuing the business while bearing tariffs could weigh on operating profit."
Domestic investment will also be greatly expanded. Seo said, "We plan to invest 4 trillion won in Korea over the next three years." This was discussed at a follow-up meeting on the Korea-U.S. tariff negotiations presided over by President Lee Jae-myung on the 16th.
Celltrion will newly build an active pharmaceutical ingredient plant in Songdo, Incheon, a finished drug plant in Yesan, South Chungcheong Province, and a prefilled syringe production facility in Ochang, North Chungcheong Province. The company said, "The U.S. plant will meet demand in the United States, and domestic production bases will handle volumes for other regions."
The biosimilar business will also be expanded aggressively. Celltrion plans to increase its biosimilar portfolio from the current 11 items to 41 by 2038. It will expand its focus from existing autoimmune disease and anticancer therapies to areas such as atopic dermatitis, hemophilia, asthma, and anti-seizure treatments.
The company identified Antibody-Drug Conjugate (ADC) as a future growth engine. The goal is to secure 20 pipelines, including those in clinical stages, by 2027. ADC is a technology that attaches a drug to an antibody to precisely strike only cancer cells, and because it reduces side effects, it is called a "guided missile-type anticancer drug."
Seo also unveiled plans to develop the quadruple-action obesity treatment "CT-G32." He said, "If Wegovy's weight loss effect is in the 12% to 15% range, CT-G32 is expected to deliver about 25%." The company said that, as an oral formulation, it can reduce individual variability and muscle loss.
Celltrion's third-quarter results this year came to 1.026 trillion won in revenue and 301 billion won in operating profit. They rose 16% and 45%, respectively, from a year earlier. Seo said, "Growth is expected in the fourth quarter as well," adding, "We will accelerate the push into new businesses."