SAN FRANCISCO, Calif. -- By Lee Han-soo/Korea Biomedical Review correspondent --Celltrion Group Founder and Co-Chairman Seo Jung-jin promised that the company will continue to develop and manufacture biosimilars until all seven billion people in the world have access to affordable treatments.

Speaking during a Q&A session after his son, Seo Jin-seok, co-Chairman of Celltrion, made a presentation about the company at the J.P. Morgan Healthcare Conference 2024, the founder of Celltrion laid out a visionary plan for the future of biologics and healthcare investment.

Seo highlighted the current limitations in the global reach of biologic products, stating, "There are only one billion people out of seven billion global population who have access to biologic drugs."

He stressed the disparity, noting that six billion people are left behind because they cannot afford" these vital treatments."

This gap in healthcare access forms the cornerstone of Celltrion's future strategies, he said.

"This is because there is a need for pharmaceutical companies to focus beyond profit, as the industry's ultimate goal should be to provide a better life to patients."

Seo's plan involves a significant shift in the pharmaceutical industry's approach, moving from a profit-centric to a patient-centric model. The plan includes lowering costs and expanding access so that patients have access to quality drugs.

Seo also announced and provided a timeline for listing Celltrion Holdings, in which he holds a 98 percent stake, for the first time.

Celltrion Holdings is currently the largest shareholder of Integrated Celltrion, the merged entity between Celltrion and Celltrion Healthcare, holding 21.5 percent of its shares.

"I plan to make Celltrion Holdings public by the end of this year or the first quarter or next year," he said. "By listing our holdings company, I'm going to use the fund to create a healthcare-dedicated fund of a 100 trillion won size with the help of other investors."

Seo expressed his intention to support young biotech entrepreneurs using the 100 trillion healthcare fund.

"As an expert in this field, I'm going to invest in biotechs that young potential entrepreneurs run," he said. "I see this as a way to nurture innovation and bring more effective solutions to the market."

Big pharmas M&A approach to acquire ADC companies wrong

However, Seo stressed that while Celltrion and his fund will continue to invest in the sector, neither entity will have plans to acquire a company, which contradicts his previous statements about considering an acquisition.

"I don't think the current trend of acquiring ADC companies is the right approach," Seo said.

This statement is particularly significant as it contradicts a common trend in the industry, where mergers and acquisitions  (M&As) are currently seen as key strategies for growth and market dominance.

Seo argued that nurturing and supporting existing companies is more beneficial than acquiring them.

"In this industry, our biggest asset is talents, and fostering an environment conducive to innovation and growth is more important than focusing on corporate takeovers," he said. "These companies should grow independently as it is my belief that these will foster innovation and specialization within the biotech sector.

Seo stressed that this aligns with Celltrion's broader mission of expanding global access to healthcare.

"By focusing on collaboration and support rather than consolidation, Celltrion aims to create a more diverse and innovative healthcare landscape," he said. "This approach is expected to facilitate the development of more effective and accessible treatments, ultimately benefiting patients worldwide."