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Celltrion targets Chinese biosimilar market through joint venture
  • By Lee Han-soo
  • Published 2019.07.19 14:53
  • Updated 2019.07.19 17:49
  • comments 0

Celltrion said it has established Vcell Healthcare Ltd., a joint venture with Hong Kong-based multinational Nan Fung Group, to develop and commercialize biosimilars in China.

Celltrion headquarters in Incheon

Vcell Healthcare, through a license agreement with Celltrion, will have the exclusive right to develop, manufacture and commercialize three biosimilar products – Remsima, Truxima and Herzuma – in the Chinese market.

Celltrion and Nan Fung Group will also explore the opportunity to construct a world-class manufacturing facility of biopharmaceutical products in China.

"We are extremely excited about the establishment of Vcell Healthcare, which will serve as the cornerstone for our entry into the Chinese market," Celltrion Group Chairman Seo Jung-jin said. "We will make our best efforts to start the supply of our biosimilar products, which have won recognition in global markets, including the U.S., Europe, and Korea, to the Chinese patients as early as possible."

Nan Fung Group Chairman and CEO Antony Leung also said, "China has huge unmet medical needs for high-quality drugs with affordable prices. We hope Vcell Healthcare will bring world-class biosimilar products to benefit Chinese patients, and build a state-of-the-art manufacturing base in China."

corea022@docdocdoc.co.kr

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