Targeting Global Generics Market
Celltrion is taking aim at the global chemical drug sector this time, after conquering the antibody biosimilars sector.
Celltrion Pharm, a subsidiary of Celltrion, has recently invested 150 billion won (US$136.89 million) to complete the construction of a new medical supplies factory in Ochang, Chungcheongbuk-do, or North Chungcheong Province.
The Ochang plant was established in compliance with Good Manufacturing Practices (GMP), an advanced global standard. Targeting to enter international markets in 2017, it is planning to obtain approval from the Current Good Manufacturing Practice (cGMP) in the U.S. and the GMP in the E.U. This is the largest plant in Korea, able to produce 10 billion pills annually.
Celltrion Pharm established the large medical supplies factory in order to target the global generic drug market. The company has been preparing this move for three years with the goal of the development of generic products with price competitiveness in the advanced market through a production facility that can be approved by advanced regulators.
There are no successful cases of generic drugs developed by domestic companies in the overseas market. Celltrion Pharm has already finished the development of 14 drug candidates last year, and the company is planning to develop a total of 60 items by 2017.
Celltrion is aiming at the global market in the biopharmaceutical sector, while Celltrion Pharm is aiming at the chemical drug sector, trying to become a “Fully-integrated Pharmaceutical Company.”