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Celltrion spends $450m to ramp up contract drug production

South Korean pharma maker seeks to tap booming overseas demand

Celltrion's headquarters in Incheon, South Korea.   © Reuters

SEOUL -- Major South Korean drugmaker Celltrion will invest 500 billion won ($448 million) to build a factory and an R&D center at its complex in Incheon, adding 60,000 liters to its total annual capacity to meet rising demand for contract manufacturing.

The expansion comes as drug development grows more challenging in general, prompting peers in the U.S. and Europe to increasingly focus on development and outsource production. Celltrion, whose own products include a rheumatoid arthritis treatment, has been tapping this trend and taking in contracting work, increasing manufacturing capacity.

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