■ Our response to our shareholders’ inquiries about U.S. President Biden’s “Executive Order to launch a National Biotechnology and Biomanufacturing Initiative” are as follows:
■ After a thorough review of the Executive Order, we view it would have little, if any, impact on Celltrion Group.
■ Celltrion Group brings mostly in-house developed antibody products to market, and the CMO business takes an insignificant portion of the business, unlike the concerns of some experts and media.
■ Any products launched in the US after 2023 will be directly sold by a U.S. legal entity of Celltrion Healthcare.
■ While Celltrion Group has secured several manufacturing sites home and abroad for the production of API and finished products, Celltrion Group will be actively considering options for obtaining manufacturing sites in the US if it is deemed to be beneficial to Celltrion Group after a thorough review of policies including incentives on investments in the US.