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.
