The wholly-owned subsidiary will be led by Senior Vice President Lee Hyuk-jae, a veteran of the company with a track record in product approvals, clinical trials, and manufacturing operations.
Celltrion plans to invest an initial 1.5 trillion won (roughly $1.04 billion) in the new entity, primarily for facility construction and contract development organization (CDO) services. A further 1.5 trillion won is earmarked for external fundraising to support the establishment of overseas research centers and the development of cutting-edge modalities for next-generation pharmaceutical treatments.
The company intends to construct manufacturing facilities in Korea with a maximum capacity of 200,000 liters, starting with a 100,000-liter plant in Incheon next year. These facilities will be designed to accommodate both large- and small-scale production needs.
According to Mordor Intelligence, an India-based market research firm, the global biopharmaceutical CDMO market is projected to surge from approximately 24 trillion won this year to 40 trillion won by 2029, representing an annual growth rate of 10.9 percent.
"We have established this CDMO subsidiary leveraging Celltrion's two decades of biotech expertise to offer comprehensive, customized services," a company spokesperson said.
Commercial production is slated to commence in 2028. To bolster its technological capabilities in emerging modalities, the company plans to establish specialized research centers in the United States, Europe, and India.
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