Celltrion establishes subsidiary in Vietnam

Celltrion Inc., South Korea’s largest biosimilar maker, said on Monday that it completed the establishment of a local subsidiary in Vietnam.

Celltrion plans to obtain approval to sell its major products, including Remsima, Remsima SC, Truxima, and Herzuma this year and supply these treatments across Vietnam.

Celltrion stated that it plans to expand its local workforce by more than double digits by the end of the year, hiring professionals for pharmaceutical sales and marketing.

The company will also build a communication network with Vietnam’s bidding agencies.

"Vietnam is a key pharmaceutical market within the ASEAN region, with an annual market size estimated at around 10 trillion won ($7.7 billion)," a Celltrion source added.

The company plans to complete product registration in major hospitals capable of prescribing biopharmaceuticals by the first half of next year.

Write to Jeong Min Nam at peux@hankyung.com