Seo Jung-jin, chairman of Celltrion, will continue to lead the company for another two years.
On the 25th, Celltrion approved the reappointment of Chairman Seo Jung-jin as an inside director at the regular shareholders' meeting held at Songdo Convensia in Yeonsu-gu, Incheon.
Chairman Seo had previously stepped down from the front line of management in 2021 but returned as an inside director and co-chairman of the board of directors after two years, citing the need for leadership. With his reappointment as an inside director, Seo will participate in management until March 2027.
Seo Jin-seok, CEO of Celltrion, who acted as chairman in place of Chairman Seo on the day, stated that visible performance growth can be expected this year. CEO Seo said, "The recent global economic environment is facing difficulties due to unstable conditions, domestic political changes, U.S. tariff issues, and various other factors. The domestic stock market is also showing a generally sluggish trend," but added, "Celltrion has passed the transitional period after last year's merger and has now reached a stage where visible performance growth can be expected in earnest starting this year."
He continued, "We will do our best to increase corporate value based on solid achievements and future growth engines such as expanding global market share of major products, launching new products, and new drug development based on accumulated technology."
Regarding the autoimmune disease treatment drug 'Jimpentra' (European sales name Remsima SC), which had raised expectations for performance growth last year but showed disappointing results, he said, "We will repay with performance this year." CEO Seo explained the poor performance of Jimpentra by saying, "I do not think its potential has diminished," and "I believe the possibility remains, but the U.S. market was more complicated than Europe and other markets." Celltrion had expected Jimpentra sales to be between 500 billion and 600 billion KRW last year, but actual sales amounted to only 36.6 billion KRW.
CEO Seo said, "The PBM (Pharmacy Benefit Manager) registration process was complicated, and there was more paperwork compared to other regions, which delayed sales expansion. As a result, sales were sluggish compared to the target," adding, "However, if Jimpentra were a poor product or drug, it would not have sold in Europe either." Jimpentra’s European sales product, Remsima SC, currently holds a 25% market share in the top five pharmaceutical markets in Europe. CEO Seo stated, "Most of the major listings for Jimpentra are now complete," and said, "Starting this year, we will deliver performance to reassure shareholders and repay them with results."
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