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Celltrion |
[Alpha Biz= Kim Jisun] According to industry sources on May 6, the potential imposition of tariffs on imported pharmaceuticals by the U.S. government could deal a significant blow to South Korea’s pharmaceutical and biotechnology sectors. The Korea Bio Association reported that last year, pharmaceutical exports to the U.S. totaled $3.97 billion, accounting for 42.8% of the country’s overall pharmaceutical exports.
The industry is particularly concerned about the impact on major contract development and manufacturing organizations (CDMOs) in South Korea, including Samsung Biologics (207940) and Celltrion (068270). These companies have a high export volume to the U.S., and an increase in tariff barriers could disrupt their market expansion efforts.
As a result, Celltrion is reportedly considering establishing a manufacturing plant in the U.S. In fact, Celltrion’s chairman, Seo Jung-jin, recently met with Donald Trump Jr., the eldest son of former U.S. President Donald Trump, on April 30, which is seen as part of a strategy to address these potential challenges.
On the other hand, Samsung Biologics, South Korea’s largest CDMO, has yet to announce any concrete measures in response. The company plans to monitor the specific details of U.S. tariff policies and market fluctuations before determining a course of action.
알파경제 Kim Jisun Reporter(stockmk2020@alphabiz.co.kr)
