Celltrion Holdings to cease selling shares internationally

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Celltrion Holdings to cease selling shares internationally

Celltrion, a Korean biopharmaceutical company listed on the Kosdaq market, yesterday announced that its largest shareholder Celltrion Holdings will stop selling its shares to transnational pharmaceutical companies.

The company pushed for an M&A in an effort to boost competitiveness in the global market, but the decision will become a shift in its marketing strategy, choosing to strengthen its sales network overseas.

The company’s foreign investors made the decision because they concluded that the M&A may raise financial uncertainties at a time when its stronghold biosimilar product Remsima is selling well in Europe.

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