Celltrion unveiled its plan to build its third plant and a global biotechnology research center in Songdo, Incheon, during the Korea Bio-industry forum, on Wednesday.
The company will build a 60,000-liter biopharmaceutical plant to build a multi-type production and supply system and a one-stop research center for complex R&D, process development, and clinical practice.
"We will invest 500 billion won ($453.3 million) into building the plant and research center, completing the research center in July 2022 and the third plant in May 2023. The third plant will start operation from June 2024," Celltrion said. When the third plant is completed, Celltrion will have a production capacity of 250,000 liters annually, a sharp increase from 190,000 liters at the two existing plants.
The proposed factory will install a total of eight 7,500 liters incubators, as the company is set to respond flexibly to the production of its biopharmaceuticals as its portfolio widens.
"Many of our incubators will shorten the batch interval," the company said. "This will lead to an actual production volume and sales contribution comparable to or higher than our existing production facilities."
Celltrion estimates that it will create about 3,000 new jobs following the third factory and research centers' construction. The company plans to recruit 2,000 professional bio-development personnel for its new research center to expand various new pipelines of the total hire.
The company also said it plans to build a fourth plant to prepare for mass production as the global biopharmaceutical market expands. It fell short of providing a specific timetable for the fourth plant.
"With the construction of the third factory and the research center, we will be able to proactively respond to the rapidly increasing global biopharmaceutical demand, and focus our capabilities on more flexible and efficient biopharmaceutical research in the future," a company official said. "We will also take the lead in the development of the global bio-healthcare ecosystem in Songdo, Incheon, and make further efforts to contribute to the development of the Korean bio industry."