Seo Jung-jin Meets Overseas Investors in the US... "Current Undervalued Stock Price, Right Time for Merger"

Seo Jung-jin, Chairman of Celltrion, Participates in Morgan Stanley Conference
"Will Complete Merger and Quickly Increase Sales and Profits"
Healthcare Fund Established... Also Promoting Telemedicine Business

Seo Jung-jin, Chairman of the Celltrion Group, met with overseas investors and institutional stakeholders to present a blueprint and future vision for the merger of group companies. Chairman Seo explained that the current undervaluation of the stock price ahead of the group's growth makes this the right time for the merger of affiliates.

On the 11th (local time), Seo Jung-jin, Chairman of the Celltrion Group, held a meeting with investors at the 21st Morgan Stanley Global Healthcare Conference held in New York, USA.
[Photo by Celltrion]

Celltrion Group announced on the 12th that Chairman Seo Jung-jin attended the '21st Morgan Stanley Global Healthcare Conference' held in New York, USA, on the 11th (local time), where he outlined the growth direction of the group through a dialogue and on-site Q&A session with Laura Howard, Senior Advisor of Asia-Pacific Healthcare Investment Banking.

The Morgan Stanley Global Healthcare Conference is an event hosted by the global investment bank Morgan Stanley, inviting promising biotech companies worldwide to connect with global institutional investors. This year marks its 21st edition. The event runs for three days starting from the 11th.

On the first day of the event, Chairman Seo met with investors and stated, "With sales growth set to accelerate from next year, the current undervaluation of the stock price makes this the right time for the merger." He added, "Through the merger of Celltrion and Celltrion Healthcare, we will fully demonstrate the results that have been prepared in advance."

Celltrion Group plans to commercialize a total of 22 products by 2030, surpassing the six products already successfully commercialized, including Remsima, Truxima, Herzuma, Remsima SC, Uplima, and Vegzelma. In particular, with the expected approval of the new drug 'Zimpenetra' (the US product name for Remsima SC) in the United States this October, global market and sales expansion are anticipated. Accordingly, the group expects its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for next year to reach approximately KRW 1.6 trillion.

Chairman Seo also expressed his intention to lead the group's growth by actively engaging in the global market. Having stepped down in 2020, he returned to the frontline of management last March to steer the group through the global economic crisis. He emphasized, "I will personally travel around the world, including the United States, Singapore, and Canada, to expand sales channels and focus all capabilities on the front lines with the goal of achieving an EBITDA of KRW 7 trillion in the near future."

Chairman Seo plans to establish a healthcare fund as well. He aims to build the fund together with investment partners as partners in attracting investors, motivated by the desire to contribute to humanity’s healthy life during his lifetime and to leave a meaningful legacy.

He also plans to promote telemedicine business. The goal is to create an environment where people who need face-to-face consultations can receive them, while those with milder symptoms can be managed remotely, thereby overcoming the limitations of medical infrastructure. However, he stressed that for telemedicine to thrive, cooperation with governments worldwide is essential to train artificial intelligence (AI) on vast medical data and to establish an environment where health diagnostic data can be shared with medical staff from home.

Chairman Seo stated, "The merger is just a small event in the growth of Celltrion Group," and emphasized, "By completing the merger, we will rapidly increase sales and profits and actively contribute to solving the ultimate challenges of human health."