Celltrion, the top biopharmaceutical firm in Korea, announced that its U.S. subsidiary has entered into an agreement to purchase a U.S. biopharmaceutical manufacturing plant, a decision it claims will "remove" risks associated with upcoming U.S. tariff increases.
Celltrion USA will acquire a manufacturing plant from Eli Lilly for 460 billion won ($330 million) and aims to finalize the transaction by year-end, according to reports.
"During an online press conference, Celltrion Chairman Seo Jung-jin stated that this acquisition essentially removes U.S. tariff risks."
By securing a domestic production center, Celltrion stated it has created a comprehensive supply chain in the United States that encompasses the complete drug manufacturing process from production to market launch.
The firm intends to spend 700 billion won on the facility, covering the purchase price, and another 700 billion won for growth.
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The facility in New Jersey is a large-scale drug substance manufacturing site approved by the U.S. Food and Drug Administration (FDA) and adheres to current good manufacturing practice (cGMP) regulations. According to Celltrion, it has a demonstrated history of creating therapies for cancer and autoimmune disorders.
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U.S. President Donald Trump indicated that tariffs on pharmaceuticals brought into the country might ultimately soar to 250 percent, the most significant level he has threatened to date.
Celltrion offers comprehensive solutions for the complete biopharmaceutical business process, including R&D, clinical trials, regulatory affairs, manufacturing, and distribution.
The Global R&D Center has a comprehensive range of R&D capabilities, including biopharmaceutical development, small molecule research, platform technology, clinical trials, and regulatory approval processes.
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Utilizing these strengths, they forge synergies via partnerships across various domains, boosting our research capabilities and efficiencies, while uncovering new factors for upcoming growth.