South Korean Celltrion to set up China JV within halfway 2019


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South Korean Celltrion to set up China JV within halfway 2019

The South Korean drug maker, Celltrion Inc. had been seeking to set up a joint venture in China, within the first half of 2019 and they were looking forward to begin selling their products earlier in 2020, the chairman of Celltrion made the declaration on Sunday, the 6th of January, 2019.

The Celltrion Chairman Seo Jung Jin had been quoted saying to the reporters, that, “since last year, we’ve been pushing on with a plan to set up a joint venture in China”, while the firm had been in talks with several Chinese companies regarding the possible merger.

Celltrion has been selling mainly to US and Europe, and their drugs are known as biosimilars. In terms of market valuation, the Celltrion is the third largest company of South Korea, reigning behind Samsung Electronics Co.

Ltd. and Chipmaker SK Hynix Inc., the Korea stock exchanged revealed on Friday, the 4th of Jan. On Friday, the 4th of January, the Celltrion said that they had been aiming to build a third domestic plant on South Korea, while the Celltron exec.

would continue to explore the possibilities of a potential manufacturing merger oversees. Followed by the announcement of Friday, Jan. 4th, the share price of Celltrion Inc. had been 4.51 percent up, residing at 2,20,000 South Korean won ($196.98).