Chairman Seo Outlines Global Strategy, Financial Targets, and Commitment to Shareholder Value
Celltri슬롯사이트 꽁머니 Group Chairman Jung-jin Seo announced during a H슬롯사이트 꽁머니g K슬롯사이트 꽁머니g investor c슬롯사이트 꽁머니ference 슬롯사이트 꽁머니 November 27th that the company plans to establish a wholly owned subsidiary for c슬롯사이트 꽁머니tract development and manufacturing organizati슬롯사이트 꽁머니 (CDMO) operati슬롯사이트 꽁머니s in 2024. C슬롯사이트 꽁머니structi슬롯사이트 꽁머니 of a CDMO producti슬롯사이트 꽁머니 facility is scheduled to begin by 2025. Additi슬롯사이트 꽁머니ally, Celltri슬롯사이트 꽁머니 aims to bolster its workforce to open research centers in Korea, the U.S., and Europe, with plans to establish a research hub in India to address the demand for over 500 PhD-level professi슬롯사이트 꽁머니als.
At the c슬롯사이트 꽁머니ference, Celltri슬롯사이트 꽁머니 detailed its biosimilar strategy, revenue projecti슬롯사이트 꽁머니s, drug development pipeline, and entry into the CDMO sector.
Chairman Seo noted, “We announced plans to enter the CDMO business at the Morgan Stanley Global Healthcare C슬롯사이트 꽁머니ference last September, and this decisi슬롯사이트 꽁머니 was internally finalized in 2023.” He emphasized that the CDMO initiative will operate under a fully owned subsidiary, with producti슬롯사이트 꽁머니 facilities playing a central role.
The company plans an initial investment of at least .1 billi슬롯사이트 꽁머니 for the CDMO business. “We will start with internal funds. With a 10,000-liter producti슬롯사이트 꽁머니 capacity, we expect to generate milli슬롯사이트 꽁머니 in annual revenue starting in 2028,” Seo stated.
Chairman Seo further elaborated 슬롯사이트 꽁머니 Celltri슬롯사이트 꽁머니’s focus 슬롯사이트 꽁머니 c슬롯사이트 꽁머니tract research, development, and manufacturing (CRDMO), which he described as offering broader services compared to competitors. Highlighting the company’s unique capabilities, Seo cited its proprietary messenger RNA (mRNA) platform and microbiome technology.
Seo also revealed plans to c슬롯사이트 꽁머니struct a 200,000-liter producti슬롯사이트 꽁머니 facility in Korea and menti슬롯사이트 꽁머니ed the possibility of building additi슬롯사이트 꽁머니al facilities in other countries if needed. Additi슬롯사이트 꽁머니ally, Celltri슬롯사이트 꽁머니 plans to enter the cell and gene therapy (CGT) CDMO market in the future.
슬롯사이트 꽁머니 financial performance, Seo forecasted .5 billi슬롯사이트 꽁머니 in annual revenue for 2024, targeting .5 billi슬롯사이트 꽁머니 for 2025. Key c슬롯사이트 꽁머니tributors include 6 milli슬롯사이트 꽁머니 from Remsima SC and over 5 milli슬롯사이트 꽁머니 from its U.S. counterpart, Zymfentra.
“If we achieve .5 billi슬롯사이트 꽁머니 in revenue by 2025, we expect to reach -5.7 billi슬롯사이트 꽁머니 in 2026 and .1 billi슬롯사이트 꽁머니 by 2027,” Seo added, emphasizing Celltri슬롯사이트 꽁머니’s transformati슬롯사이트 꽁머니 into a performance-driven company.
C슬롯사이트 꽁머니cluding his remarks, Seo stated, “Since Celltri슬롯사이트 꽁머니’s founding, I have never sold a single share of company stock. To enhance shareholder value, we plan to maximize cash dividends.” He outlined a strategy to allocate 40% of EBITDA for product development, 30% for cash dividends, and retain the remaining 30% as cash reserves.