Celltrion liquidates Chinese affiliate Vcell Healthcare, assures Wuhan project intact

South Korea’s Celltrion Inc. will liquidate Vcell Healthcare wholly owned by Celltrion Hong Kong, one of its affiliates established to enter the Chinese market, but maintained its business plan in Wuhan, Hubei, is intact.

Vcell Healthcare had remained a subsidiary of Celltrion Hong Kong since its Hong Kong-based partner Nan Fung Group exited from the joint venture founded in 2019.

Celltrion said the liquidation reflects a change in its China business, in which more efforts have been put into cooperation with Wuhan authorities to set up a local production site through a separate local entity.

In January of last year, Celltrion announced it would build China’s largest biologic facility with an annual capacity of 120,000 liters with full support from the Hubei provincial government.

Celltrion said its plan to build a production facility in Wuhan has been delayed due to the pandemic but its overall project remains on track,

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