Celltrion Chairman Seo Presents Growth Strategy at Morgan Stanley Global Healthcare Conference

Tags :
Share This :

Celltrion Group Chairman Seo Jung-jin speaks to investors at the 21st Annual Morgan Stanley Global Healthcare Conference in New York, U.S., September 11, 2023. / Courtesy of Celltrion
Celltrion Group Chairman Seo Jung-jin speaks to investors at the 21st Annual Morgan Stanley Global Healthcare Conference in New York, U.S., September 11, 2023. / Courtesy of Celltrion

Celltrion Group Chairman Seo Jung-jin met with overseas investors and institutions to present the blueprint for the group’s merger and future vision.

On September 11 (local time), Chairman Seo presented the group’s growth direction to Laura Howard, Senior Advisor, Asia Pacific Healthcare Investment Banking, at the 21st Morgan Stanley Global Healthcare Conference in New York City.

The Morgan Stanley Global Healthcare Conference is an event where global investment bank (IB) Morgan Stanley invites promising biotech companies from around the world to match with global institutional investors, and will be held for three days from the 11th.

“We believe that the time is right for a merger as our stock price is undervalued ahead of full-scale revenue growth from next year,” said Chairman Seo meeting with investors on the first day of the event. “The merger of Celltrion and Celltrion Healthcare will allow us to showcase the results we have been preparing for.”

Celltrion Group will have a total of 22 products by 2030, beyond its six commercialized products – Ramsima, Truxima, Herzuma, Ramsima SC, Yuflyma and Vegzelma. In particular, due to the expected expansion of the global market and sales of Zymfentra (U.S. product name: Ramsima SC), which is expected to be approved as a new drug in the U.S. in October, next year’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) is expected to reach about 1.6 trillion won.

Chairman Seo, who returned to the frontline of management in March to personally lead the group amid the global recession, said he plans to travel around the world, including the U.S., Singapore, and Canada, to expand sales and focus all his efforts on the frontline, aiming to achieve EBITDA of 7 trillion won as soon as possible.

Chairman Seo also stated that he will actively pursue the creation of a “healthcare fund” and the promotion of a “telemedicine” business that can contribute to solving the problem of human aging. He hopes to build a healthcare fund with investment partners to contribute to the healthy lives of human beings during their lifetime and leave a meaningful legacy in the future.

In addition, he said that he will contribute to overcoming the limitations of healthcare infrastructure by promoting telemedicine business to create an environment where those who need it can receive face-to-face care and those with lesser symptoms can receive non-face-to-face care. 

He said that in order to promote telemedicine, it is necessary to work with governments to create an environment where vast amounts of medical data can be learned with artificial intelligence (AI) and medical examination data can be shared with medical staff at home.

저작권자 © Korea IT Times 무단전재 및 재배포 금지

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Popular News Posts


Our Exclusive Products

Our Store

Our mission is simple, offer quality products that make our customers lives better at a reasonable price, while ensuring a hassle-free shopping experience. This means that before we bring a product to market, we test it to ensure that it meets our high-level quality standards. Our customer service team understand our products and can answer most every product related question quickly and efficiently. We strive everyday to meet and exceed our customers’ expectations of quality and support! Should we ever fail to meet this expectation – contact us and we will make it right!

Our Value: We are proud of our product and accomplishments, but we typically don’t shout it from the rooftop. Instead, we prefer to let our product and customers do the talking. Our core values can be recognized in our product. The qualities we strive for include:

Pragmatism: We design simple, useful solutions for common needs
Quality: From design to final product, we strive for durable solutions that work
Originality: Creativity and innovation are what makes our product unique
Design: Our minimalist and bold design language focuses on functionality and simplicity that is timeless

0 +

Top Rated Products

0 +

Happy Customers