Celltrion, the South Korean biotechnology company best known for its portfolio of biosimilar drugs, is asking global investors to rethink how it should be valued as it pivots toward original drug development. Increasingly, that message is being delivered by Seo Jin-seok, the eldest son of founder Seo Jung-jin.
At this year’s JPMorgan Healthcare Conference, Celltrion used a main-track presentation to outline a long-term strategy centered on innovative medicines and expanded U.S.-based manufacturing. The appearance carried significance beyond product pipelines, offering one of the clearest public signals yet of how leadership is evolving as the company enters a riskier and more complex phase of growth.
The presentation was led by Seo Jin-seok, head of management and business operations at Celltrion. For investors accustomed to founder-driven biotechnology companies, his role underscored a gradual but deliberate shift in who is now articulating the company’s strategic direction.
Mr. Seo told investors that Celltrion has entered a new stage in which biosimilars are no longer the endpoint but the financial foundation for a broader push into original drugs. While biosimilars continue to generate steady cash flow, he said the company is redeploying both capital and its accumulated antibody-engineering expertise toward novel therapies that carry higher development risk but potentially greater long-term returns.
Biosimilars remain central to the business model. Celltrion plans to expand its portfolio from 11 products today to 41 by 2038, spanning autoimmune diseases, oncology, bone disorders and ophthalmology. Executives framed the expansion as a way to finance sustained investment in innovation without heavy reliance on external funding.
Against that backdrop, the company highlighted a pipeline of 16 new drug candidates, focusing on programs that have already entered human trials. Several antibody-drug conjugates and a multispecific antibody advanced into Phase 1 studies last year, with early data expected later this year. One candidate, CT-P70, has received Fast Track designation from the U.S. Food and Drug Administration, reflecting Celltrion’s effort to align its development priorities more closely with U.S. regulatory pathways.
Obesity emerged as a key therapeutic focus, underscoring the commercial importance of the U.S. market. Celltrion said it is developing a next-generation obesity treatment designed to address limitations of existing therapies, including uneven patient response and muscle loss—an increasingly competitive arena among global drugmakers.
Manufacturing strategy was another focal point. Celltrion emphasized its recently acquired facility in Branchburg, N.J., positioning it as a cornerstone of its North American operations. The site is intended to reduce tariff exposure, stabilize supply chains and generate additional revenue through contract manufacturing.
The company plans to expand active pharmaceutical ingredient capacity at the New Jersey plant from about 17,400 gallons to roughly 26,000 gallons by 2028, with a further increase to nearly 34,900 gallons by 2030. Finished-drug production is also planned, enabling an end-to-end manufacturing chain within the United States.
Executives said the facility is designed not only to support Celltrion’s own products but also to serve global pharmaceutical partners. Over time, the company is considering adding a U.S.-based research presence linked to local biotech clusters, further embedding itself in the American life-sciences ecosystem.
Taken together, the presentation went beyond a routine pipeline update. With Seo Jin-seok now taking a leading role in communicating strategy on a global stage, Celltrion is signaling that its push into innovative drug development is closely tied to a broader generational transition—one aimed at repositioning the company within the world’s largest pharmaceutical market.
