SEOUL - South Korea's Celltrion Holdings is preparing for an initial public offering (IPO) that could value the company at around 100-trillion-won ($75B). The offering, scheduled for late 2024 or early 2025, is part of a strategic move to establish a significant healthcare fund. Seo Jung-jin, the company's founder, is leading the effort and retains a substantial 98.5% stake in the firm.
In a recent development, Seo Jin-seok, Co-CEO of Celltrion, outlined the company’s growth strategy. The plan includes a strong focus on the development of biosimilars, novel drugs, and a new venture into digital healthcare.
The company's ambitious growth plans were highlighted during Seo Jung-jin's presentation at the J.P. Morgan Healthcare Conference held on Wednesday. Celltrion's roadmap to 2030 includes a sales target of 11 billion won and a goal to achieve a 30% operating margin. Part of this expansion involves increasing its biosimilar portfolio, including products like Remsima, and capitalizing on opportunities within the digital healthcare sector.
Seo also emphasized the critical role of Korea in the worldwide bio healthcare industry and underscored Celltrion's intent to amplify its international sales footprint. The company's strategy is to offer a diverse range of 22 drug products.
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