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Celltrion chairman, two affiliates to buy back $135 million in shares

Published: 09 Apr. 2025, 18:08

The Celltrion headquarters in Incheon [CELLTRION]

The chief of Celltrion, a major Korean biopharmaceutical firm, and its two affiliates will purchase 200 billion won ($135 million) worth of Celltrion shares, the company said Wednesday.

Celltrion founder and Chairman Seo Jung-jin will purchase 50 billion won worth of Celltrion shares starting May 9, using his personal funds, while Celltrion Holdings and Celltrion Skincure plan to spend 100 billion won and 50 billion won, respectively, to buy the stock, the company said in a press release.

“The chairman made the decision to show his commitment to responsible management and enhancing shareholders' value,” the release said, adding that the planned purchases will be made during trading hours.

Celltrion Holdings, the holding company of Celltrion Group, has a 21.96 percent stake in Celltrion, while Celltrion Skincure owns a 1.89 percent stake in the pharmaceutical firm.

Separate from the share purchase plan, Celltrion has recently taken aggressive steps to prop up corporate and shareholder value through stock buybacks and cancellations.

The company has been in the process of buying back its own shares worth 350 billion won since early this year while planning to cancel more than 800 billion won worth of stocks this year, the release said.

In a pre-emptive response to U.S. President Donald Trump's reciprocal tariffs, the company has already shipped enough inventory to the United States to meet customer demand for one year, a company spokesperson said.

“The company will decide on whether to build a production facility in the United States by the end of this year,” the spokesperson added.

Yonhap