Celltrion Establishes Subsidiary in Vietnam

Celltrion has officially entered the ASEAN market by establishing a local subsidiary in Vietnam. Following the company's tradition of having its top executives spearhead entry into key markets, Chairman Seo Jung-jin and other senior leaders will lead this new expansion effort.

Celltrion announced on the 30th that it has completed the establishment of its Vietnamese subsidiary, with plans to obtain approval for key products and supply treatments across the country by the end of the year. The company is focusing on Vietnam as a strategic hub in the ASEAN pharmaceutical market.

By the end of the year, Celltrion plans to expand its local workforce, hiring more than a dozen specialized personnel to handle pharmaceutical sales and marketing. These employees will engage in marketing activities targeting medical professionals and patients, while also building a network to closely communicate with Vietnam’s bidding agencies.

Vietnam is considered a crucial market in the ASEAN region, with an annual pharmaceutical market estimated to be worth around KRW 10 trillion. According to Celltrion, the antibody treatment segment, which is a key focus for the company, is growing more rapidly in Vietnam compared to neighboring countries, making it a highly promising market.

By the end of the year, Celltrion aims to secure approval from Vietnamese authorities for its four main products: Remsima (Infliximab) for autoimmune diseases, Remsima SC, Truxima (Rituximab) for blood cancer, and Herzuma (Trastuzumab) for breast cancer.

Vietnam’s pharmaceutical market, similar to Europe, primarily operates through hospital bidding for biopharmaceutical supplies. Celltrion plans to register its products with major hospitals capable of prescribing biopharmaceuticals by the first half of next year. The company will emphasize its strong product performance, direct sales experience, and stable supply to secure a competitive edge in the bidding process.

Kim Hyoung-ki, Vice Chairman and Head of Global Sales at Celltrion, is directly overseeing the development of the local sales infrastructure in Vietnam, continuing the company's tradition of having top executives lead market expansion efforts. Chairman Seo Jung-jin will visit Vietnam later this year to personally oversee the launch of the products and ensure early market penetration. Seo’s hands-on leadership approach was previously demonstrated during the U.S. launch of Zymfentra (Remsima SC’s U.S. product name), where he played a key role in its initial sales activities.

Additionally, Celltrion plans to gradually expand its pipeline in Vietnam. By next year, the company aims to obtain approval for three more products: Yuflyma (Adalimumab) for autoimmune diseases, Vegzelma (Bevacizumab) for targeted cancer therapy, and Omlyclo (Omalizumab) for allergy treatment. This strategy is designed to rapidly build market share by leveraging products already validated in major global pharmaceutical markets like the U.S. and Europe.

Kim Ho-woong, Vice President of Global Sales at Celltrion, stated, “We will do our utmost to ensure that high-quality Celltrion biopharmaceuticals can benefit more Vietnamese patients through active local operations. Starting with Vietnam, we plan to enhance Celltrion's influence in the emerging ASEAN pharmaceutical markets by expanding our marketing activities.”