After teasing its position in a bidding contest for a large-scale drug substance plant in the U.S. this summer, South Korea’s Celltrion has sealed the deal. Celltrion—which specializes in biosimilar drugs—has inked an agreement to purchase Eli Lilly’s drug substance plant in Branchburg, New Jersey, for 460 billion Korean won ($330 million), according to a Sept. 23 shareholder letter. The deal is expected to close by the end of the year, the company noted. Celltrion said it will retain all employees at the Branchburg facility and begin its own operations there “immediately.”
Read the full article: Celltrion Snaps up Lilly’s NJ Drug Substance Plant for $330M in Tariff Mitigation Move //
Source: https://www.fiercepharma.com/manufacturing/celltrion-snaps-lillys-nj-drug-substance-plant-330m-tariff-mitigation-move-pledges