Notice of 35th Annual General Meeting of Shareholders

Dear Shareholders,

Celltrion announces the 35th Annual General Shareholders’ Meeting.

 

Notice of 35th Annual General Meeting of Shareholders

2026 Annual Meeting of Shareholders

 

1.    Date and Time: March 24, 2026 10:00a.m. KST

 

2.   Venue: Grand Ballroom, Songdo Convensia (123, Central-ro, Yeonsu-gu, Incheon, Republic of Korea)

 

3.    Agendas

       ■ Matters to Report

        - Report on Audit and Business for Fiscal Year 2025

        - Report on Internal Audit Management for Fiscal Year 2025

       ■ Matters for Approval

       - Approval of Audited Financial Statements for Fiscal Year 2025
       - Approval of Partial Amendments to the Articles of Incorporation
       - Election of Directors 
       - Election of Outside Directors for Audit Committee Members
       - Election of Audit Committee Members
       - Approval of the Director Remuneration Limit

       - Approval of the Plan for Treasury Share Holding and Disposition and Cancellation of Treasury Shares

 

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Letter to Shareholders [U.S. Manufacturing Operations and Tariff Risk Position]

Dear Valued Shareholders,

 

To address market concerns arising from recent references to changes in U.S. government tariff policies, we would like to share with our shareholders the current operational status of the Branchburg facility and our forward plans as follows.

 

Initiation of CMO Production and Validation for In-House Product Manufacturing

 

Following the successful completion of the acquisition of the former Eli Lilly facility late last year, we finalized a comprehensive inspection of the entire site and completed all preparations for full-scale operations by the end of January this year. Based on these efforts, we commenced full-scale production of Lilly CMO products across all lines beginning in February, thereby demonstrating the operational efficiency of our U.S. manufacturing facility.

 

In parallel, Celltrion has initiated validation procedures required for the manufacturing of its own products. By integrating local manufacturing with its direct commercial network, we plan to establish a fully integrated system capable of supplying locally manufactured products to the U.S. market in due course.

 

Structural Mitigation of Tariff Risks and Completion of Preemptive Measures

 

Celltrion has completed all necessary measures to ensure that its business operations remain unaffected, regardless of how future U.S. tariff issues may unfold.

 

  • Short-term Response: Sales will continue without tariff impact through the utilization of approximately two years of inventory already positioned within the United States.
  • Mid- to long-term Response: Direct supply of products from the Branchburg manufacturing facility will enable the operation of a production-and-sales system that is fully insulated from tariff-related issues.

 

In conclusion, despite the U.S. Supreme Court’s ruling invalidating reciprocal tariffs and the potential for future changes in tariff policy under the Trump administration, we have established a structurally resilient local production and supply system, ensuring that its operations remain unaffected by tariff-related uncertainties.

 

Celltrion remains focused on closely monitoring local market conditions and making every effort to safeguard shareholder value. We sincerely appreciate our shareholders’ continued trust and support. 

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News

Celltrion launches Remsima IV liquid formulation in Europe, securing new competitiveness to lead the global infliximab market

- Early performance demonstrated with national tender wins in Norway and Denmark… Secured 35% share of the IV market in the Netherlands- The world’s first and only infliximab liquid formulation… Patent registrations completed across most European countries including the EU5- Continued field-friendly marketing activities through formulation innovation reflecting clinical needs… Enhancing brand value- The world’s first and only full infliximab portfolio of IV and SC formulations… “Will continue innovation in biosimilar products” [March 11, 2026, KST] Celltrion today announced the European launch of the liquid formulation of Remsima (infliximab), strengthening its leadership in the infliximab market. The infliximab liquid formulation is uniquely held by Celltrion globally and is supported by registered patents. As a newly introduced formulation reflecting clinical needs, it is expected to further reinforce Remsima’s influence through enhanced product competitiveness and expanded market impact. Celltrion’s Nordic affiliate achieved early success by securing contracts with the Remsima intravenous (IV) liquid formulation in infliximab national tenders held in Denmark and Norway. Following the European approval of the Remsima IV liquid formulation in November last year, the local affiliate had prepared in advance to ensure product distribution through key national tenders. As a result, sales in Norway began immediately after the tender award, with supply planned through January 2028. Through this, the product is expected to secure approximately 35% share of the infliximab IV market in Norway. The Remsima liquid formulation expands treatment options by reflecting clinical needs, alongside the existing Remsima IV (100 mg lyophilized formulation) and Remsima SC. In European clinical settings, there has been continuous demand for a multi-dose liquid formulation that enables more efficient storage and management while reducing the complexity of the preparation process. Reflecting these needs, Celltrion has introduced the Remsima 350 mg liquid formulation, while continuing to strengthen field-focused sales and marketing activities. With the field-friendly Remsima liquid formulation, healthcare institutions are expected to benefit from administrative and cost efficiencies, further strengthening the competitiveness of the Remsima portfolio. Compared with the lyophilized formulation, the liquid formulation can reduce preparation time by approximately 50%, while lowering labor and consumable costs by around 20% during drug preparation. In addition, storage space and related storage costs can be reduced by up to 70%, generating strong interest across Europe from the early stage of launch. The recent national tender award in Norway also reflects recognition of these advantages and is expected to serve as a new competitive strength for Remsima in Europe, where tender markets represent a significant portion of demand. Celltrion has also filed patents for the Remsima liquid formulation and has completed patent registrations in most European countries, including the EU5 markets such as the UK, Germany and France. As Remsima is the only infliximab product available in a liquid formulation, its differentiated competitiveness is expected to further strengthen its influence in the infliximab market. Following the development and commercialization of the world’s first infliximab SC formulation, Celltrion has now secured the IV liquid formulation, becoming the only company globally to establish a full portfolio of infliximab IV (lyophilized and liquid) and SC formulations. Based on this, the company aims to further strengthen brand trust in Remsima in the infliximab market, expand prescriptions across both Remsima IV and SC, and enhance profitability. In addition, Celltrion plans to continue product innovation reflecting clinical needs while reinforcing its differentiated corporate image with unique competitiveness in the biosimilar market. Starting with the Nordic region, Celltrion plans to expand the launch of the Remsima liquid formulation across Europe this year, including France, the Netherlands and the Czech Republic, further strengthening its leadership in the infliximab market. According to pharmaceutical market research firm IQVIA, the Remsima portfolio (IV and SC) maintained the No.1 position in infliximab prescriptions in Europe with a 68% market share as of Q3 last year. Based on the strengthened Remsima portfolio with a full formulation lineup, Celltrion plans to continue strengthening its market position while addressing diverse clinical needs. “As trust in Celltrion continues to build in the European biosimilar market, the Remsima liquid formulation reflects clinical needs and has demonstrated its competitiveness by securing tender wins immediately after launch," said Seung-doo Baek, Head of Celltrion’s Nordic affiliate. "Going forward, we will continue field-focused sales and marketing activities to provide better treatment options for patients and healthcare professionals in Europe while further expanding prescriptions.”

2026
03
11
Celltrion to expand treasury share cancellation to 9.11 million shares: Prioritizing shareholder value amid heightened market uncertainty

- Celltrion plans to expand treasury share cancellation to 9.11 million shares by adding 3 million shares originally reserved for employee compensation to the previously announced 6.11 million shares.- The total treasury share cancellation amounts to KRW 1.9268 trillion, representing the cancellation of 74% of the company’s total treasury shares to enhance shareholder value.- The decision reflects a proactive response to market volatility amid rising geopolitical risks and uncertainties, while reaffirming the company’s commitment to prioritizing shareholder value.- “We are prioritizing shareholder value amid heightened uncertainties and will make every effort to achieve this year’s revenue target of KRW 5.3 trillion,” a Celltrion official said. INCHEON, South Korea – Celltrion announced today that it has decided to expand treasury share cancellation to approximately 9.11 million shares and disclosed a revision to the agenda for its upcoming annual general meeting of shareholders. Based on the closing price on March 5, the total value of the shares to be cancelled amounts to approximately KRW 1.9268 trillion[1].In the agenda for the 35th annual general meeting of shareholders previously disclosed, Celltrion proposed a resolution titled “Approval of Treasury Share Holding and Disposal Plan and Cancellation,” which included the cancellation of approximately 6.11 million treasury shares, excluding shares reserved for stock option compensation. The approximately 3 million shares excluded from cancellation had been retained to fulfill stock option grants already awarded to certain employees. Through this latest disclosure, Celltrion proposed revising the agenda to include these stock option-related treasury shares as well, thereby increasing the total cancellation volume to approximately 9.11 million shares. Employee stock option compensation will be managed through new share issuances. However, as the treasury shares will be cancelled first and new shares issued afterward, the company expects no impact on the total number of shares outstanding. The approximately 9.11 million shares to be cancelled represent about 74% of the total treasury shares held by Celltrion. The remaining 3.23 million shares, equivalent to about 26%, will be utilized to support future growth initiatives. Celltrion’s decision to cancel nearly three quarters of its treasury shares reflects its longstanding commitment to prioritizing shareholder value. The decision also reflects the company’s response to heightened market volatility driven by increasing geopolitical risks. In fact, Celltrion has continued to implement shareholder-friendly initiatives in 2024 and 2025, including treasury share purchases and cancellations, as well as providing updates to shareholders on the company’s response to rapidly changing market conditions. In addition, the company plans to proactively reflect the intent of the amended Commercial Act at this year’s shareholders’ meeting by introducing measures such as an independent director system, mandatory cumulative voting, an increase in separately elected outside directors, and the adoption of electronic shareholder meetings, further strengthening the protection of shareholder rights. Other agenda items to be presented at the shareholders’ meeting include partial amendments to the articles of incorporation, appointment of directors, and approval of financial statements including a cash dividend of KRW 750 per share. The director appointment agenda has been revised to nominate Shin Min-chul, Head of the Administration Unit and President, as an internal director, replacing Kim Hyoung-ki, Vice Chairman and Head of the Global Sales Business Group, who has decided to step down due to personal reasons. In addition, part of the statement of appropriation of retained earnings has been revised to secure surplus for the additional treasury share cancellation. “The decision to cancel 9.11 million treasury shares, representing 74% of the company’s total treasury holdings including the additional amount announced today, reflects our commitment to prioritizing the protection of shareholder interests amid an unstable market environment,” a Celltrion official said. “We will continue to respond to market changes while conducting our business responsibly and enhancing shareholder value, and will make every effort to achieve this year’s revenue target of KRW 5.3 trillion.” [1] Closing price on March 5, KRW 211,500

2026
03
06
Celltrion Advances Dual-Track Development of a ‘Quadruple-Action Injectable’ and a ‘Multi-Target Oral Therapy’ for Obesity, Pursuing a Potential Game-Changer Status through Differentiated Approaches

- Celltrion seeks to create synergy in the obesity drug market through the development of a differentiated quadruple-action injectable and an oral drug.- The multi-target injectable, including GLP-1, is designed to improve the adverse event profile and maximize efficacy compared to existing therapies, with an IND submission planned for 2027.- The GLP-1–based oral drug is expected to significantly expand treatment access by improving patient compliance, with an IND submission planned for 2028.- Celltrion aims to establish a foundation for comprehensive market penetration through the development of two types of obesity therapies, tailored to patient characteristics and treatment stages. INCHEON, South Korea - Celltrion announced today that it is advancing the development of innovative obesity therapies differentiated from existing treatments, aiming to establish a strong position in the rapidly growing global obesity drug market. The company is implementing a dual-track strategy to simultaneously develop a quadruple-action injectable (development code: CT-G32), designed to maximize efficacy by expanding target mechanisms beyond existing therapies, and a multi-target oral therapy that significantly enhances dosing convenience compared to injectable treatments. The next-generation obesity therapeutic candidate CT-G32 is being developed as a first-in-class drug that simultaneously acts on four targets, surpassing the currently dominant GLP-1 (glucagon-like peptide-1)–based dual- and triple-agonists in the market. The candidate is designed to address limitations of existing therapies, including variable patient response and the loss of lean muscle mass, while maximizing appetite suppression and weight loss through its expanded multi-target mechanism. The company also plans to expand development into a metabolic disease therapy encompassing lipolysis promotion and regulation of energy metabolism. CT-G32 is currently undergoing preclinical studies for candidate compounds, with plans to submit an Investigational New Drug (IND) application in the first half of next year to initiate clinical trials. In parallel, the multi-target oral therapy currently under development is expected to significantly expand patient access by offering enhanced dosing convenience over injectables. Ease of storage and distribution, enabling sustained treatment, represents an additional advantage. While existing oral therapies either have limited accessibility due to their classification as psychotropic agents or offer relatively modest weight-loss effects, Celltrion is designing its candidate based on GLP-1 receptor agonists – a mechanism that has recently gained significant attention – as a best-in-class therapy. In particular, while recently emerging oral obesity therapies from global pharmaceutical companies act on a single GLP-1 receptor target, Celltrion’s oral therapy is being developed to act on multiple targets including the GLP-1 receptor, which is expected to deliver enhanced efficacy and reduced adverse events. Celltrion is currently conducting research to improve stability and bioavailability from both formulation and molecular design perspectives and plans to submit an IND application in the second half of 2028. Upon completion of development, Celltrion expects to establish itself as a game changer in the high-growth obesity treatment market based on improved efficacy and convenience compared to existing products. The injectable is being developed for patients requiring substantial initial weight loss or those with insufficient response to existing therapies, while the oral therapy is intended for patients who find injectables burdensome or those requiring long-term maintenance therapy following weight loss. Through this approach, the company aims to maximize synergy between the two therapies and establish a foundation for comprehensive market penetration across treatment stages. According to the World Health Organization (WHO), the global prevalence of overweight among adults has increased sharply from approximately 25% in the 1990s to over 40% in recent years. As a result, obesity-related complications and associated healthcare costs are rising. Market research firm GlobalData projects that the global obesity therapeutics market will reach approximately USD 173.5 billion by 2031. “Building on our established leadership in therapeutic areas such as autoimmune diseases and oncology, and following our recent expansion into ophthalmology and bone disorders, we plan to enter the obesity therapeutics market, which has immense growth potential, with differentiated competitiveness,” a Celltrion official said. “We will continue to actively explore new therapeutic areas, maximize corporate value, and strive to evolve into a global big pharma company.”

2026
02
24
New ECCO data show subcutaneous (SC) infliximab (Remsima™ SC) effectively recaptures and maintains disease control after drug holiday

A new post-hoc analysis from the LIBERTY studies, presented at ECCO 2026, demonstrated that initiating subcutaneous (SC) infliximab (Remsima™ SC) after a treatment interruption following intravenous (IV) infliximab induction helps patients with Crohn’s disease (CD) and ulcerative colitis (UC) recapture and maintain disease control1The results demonstrated that SC infliximab provides an effective and safe option to regain clinical control after a planned or unplanned treatment interruptionMore than a total of 30 accepted abstracts including one oral and one digital oral presentation and eight posters, reinforce Celltrion’s commitment to inflammatory bowel disease (IBD) research aimed at enhancing patient outcomes INCHEON, South Korea - Celltrion, Inc. today announced new data from a post-hoc analysis of the pivotal LIBERTY studies (LIBERTY-CD and LIBERTY-UC), showing that subcutaneous (SC) infliximab restored and maintained response in most Crohn’s disease (CD) and ulcerative colitis (UC) patients with sustained efficacy, safety, and persistence through to Week 102.1 The data will be presented as a poster presentation at the 21st Congress of the European Crohn’s and Colitis Organisation (ECCO), to be held from February 18-21 in Stockholm, Sweden. “As immunogenicity is the most significant concern when restarting treatment with infliximab after an interruption, these results suggest that treatment persistence was maintained even in patients with immunogenicity,” said Dr. Marla Dubinsky, Professor of Pediatrics and Director of the IBD Center at the Icahn School of Medicine at Mount Sinai. “It's reassuring to see that not only can we effectively recapture disease control with a convenient subcutaneous option, but that this response was seen early and was shown to be maintained through Week 102 in a post-hoc analysis from the pivotal LIBERTY studies. This is a significant finding for patients, as it offers a potentially reliable strategy for providers and transformative opportunity for patients to manage their IBD journey even when treatment is interrupted.” “In clinical practice, patients may experience treatment interruption for clinical and non-clinical reasons, and initiation of treatment demands careful consideration of the risks,” said Professor Stefan Schreiber, University Hospital Schleswig-Holstein, Department of Medicine I, Kiel, Germany. “This data provides evidence that subcutaneous infliximab can effectively and safely recapture disease control, offering a viable treatment option for both clinicians and patients.” The analysis evaluated the efficacy and safety of starting SC infliximab 240mg in patients, randomised to the placebo maintenance arm in the Phase 3 LIBERTY studies, who had previously completed intravenous (IV) infliximab induction and subsequently experienced a drug holiday of 16 weeks or more before starting SC infliximab due to disease progression. Among 51 CD and 77 UC patients who initiated treatment with SC infliximab, clinical response was observed early by 8±2 weeks and was maintained through the study. At the end of the treatment, 61.1% in CD and 65.2% in UC patients achieved faecal calprotectin remission, and 64.0% in CD and 68.8% in UC patients achieved endoscopic response/ improvement. Persistence in treatment end was 72.3% of CD patients and 61.9% of UC patients. Serum infliximab levels increased after initiating SC infliximab and remained stable through Week 102, with no new safety concerns observed. The results demonstrated that initiation of treatment with SC infliximab 240 mg was effective to recapture and maintain disease control for Crohn’s disease (CD) and ulcerative colitis (UC) patients, suggesting SC infliximab provides an effective and safe option to regain clinical control after a planned or unplanned treatment interruption. Additionally, Celltrion will host a satellite symposium titled, “Enhancing Patient Management with Subcutaneous Infliximab: Practical Insights & Discussion.” on Friday, February 20 from 12:45 to 13:25, in Room A12 at Stockholmsmässan. Chaired by Professor Jean-Frédéric Colombel, the symposium will feature presentations from Professor Anthony Buisson and Professor Axel Dignass. “The comprehensive data from the studies reinforces the growing body of evidence supporting subcutaneous infliximab as a critical treatment option for the gastroenterology community,” said Nam Lee, Vice President of Global Medical Affairs at Celltrion. “The data presented at ECCO 2026 further demonstrate our leadership and long-standing commitment to raising standards of care in gastroenterology and to improving the lives of people with Inflammatory Bowel Disease.” Notes to Editors: About the subcutaneous (SC) formulation of CT-P13CT-P13 SC is the world’s first subcutaneous formulation of infliximab. A 120mg fixed dose of CT-P13 SC has been approved for use in 60 countries including the US, UK, EU, Canada, Brazil, Australia and Taiwan, in adults regardless of body weight. The SC formulation of infliximab has the potential to enhance treatment options by providing high consistency in drug exposure and a convenient method of administration.2,3 In July 2024, CT-P13 SC received final approval from the European Commission for an additional dosing regimen and dose escalation, which allows 3-intraveneous (IV) induction dosing regimen and dose escalation of subcutaneous maintenance dose from CT-P13 SC 120 mg Q2W to 240 mg Q2W for patients with loss of response.4 Long term data from two-year extension of the LIBERTY studies (LIBERTY-CD and LIBERTY-UC) have demonstrated sustained efficacy and safety of CT-P13 SC, with clinical remission, response, and corticosteroid-free remission generally maintained through Week 102.5 About CelltrionCelltrion is a leading biopharmaceutical company that specializes in researching, developing, manufacturing, marketing and sales of innovative therapeutics that improve people's lives worldwide. Celltrion is a pioneer in the biosimilar space, having launched the world's first monoclonal antibody biosimilar. Our global pharmaceutical portfolio addresses a range of therapeutic areas including immunology, oncology, haematology, ophthalmology and endocrinology. Beyond biosimilar products, we are committed to advancing our pipeline with novel drugs to push the boundaries of scientific innovation and deliver quality medicines. For more information, please visit our website www.celltrion.com/en-us and stay updated with our latest news and events on our social media - LinkedIn, Instagram, X, and Facebook. FORWARD-LOOKING STATEMENTCertain information set forth in this press release contains statements related to our future business and financial performance and future events or developments involving Celltrion Inc. and its subsidiaries that may constitute forward-looking statements, under pertinent securities laws. This press release contains forward looking statements. These statements may be also identified by words such as "prepares", "hopes to", "upcoming", "plans to", "aims to", "to be launched", "is preparing", "once gained", "could", "with the aim of", "may", "once identified", "will", "working towards", "is due", "become available", "has potential to", “anticipates”, the negative of these words or such other variations thereon or comparable terminology.In addition, our representatives may make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Celltrion Inc. and its subsidiaries' management, of which many are beyond its control.Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them.Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements.Celltrion Inc. and its subsidiaries undertake no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. References____________________1 Colombel JF et al., Recapturing disease control with subcutaneous infliximab after a drug holiday following intravenous infliximab induction: A post hoc analysis of LIBERTY-CD and -UC studies. Poster Presentation (P0832) at ECCO 2026.2 Schreiber S et al., Gastroenterology. 2021;160(7):2340-2353.3 Westhovens R et al., Rheumatology. 2021;60(5):2277-2287.4 European Medicines Agency. Remsima - Summary of Product Characteristics (SmPC). [Accessed January 2026]5 Colombel JF et al., Subcutaneous Infliximab (CT-P13 SC) as Maintenance Therapy for Crohn’s Disease and Ulcerative Colitis: 2-Year Results from Open Label Extensions of Two Randomized Controlled Trials (LIBERTY). Journal of Crohn’s and Colitis. 2025;19(6):jjaf060.

2026
02
19
Celltrion to Submit Approx KRW 1.46Tn Treasury Share Cancellation Proposal to Shareholders’ Meeting; To Amend Articles Ahead of Commercial Act Revision to Enhance Transparency and Shareholder Value

- Celltrion will proactively amend its Articles of Incorporation to reflect the intent of the pending Commercial Act revision and submit a proposal for the cancellation and utilization of treasury shares at the upcoming AGM.- The Company plans to cancel 65% of its treasury shares, excluding those reserved for employee compensation, while the remaining 35% will be utilized to secure future growth drivers.- The planned cancellation of 6.11 million shares exceeds the volume of treasury shares repurchased in 2024–2025, demonstrating the Company’s commitment to responsible shareholder returns.- Celltrion will also adopt cumulative voting, an independent director system, an expanded number of separately elected outside directors, and electronic shareholders’ meetings in advance to strengthen shareholder rights protection. INCHEON, South Korea - Celltrion announced today that it will submit agenda items to its upcoming Annual General Meeting of Shareholders (AGM) to manage the cancellation, retention, and utilization of treasury shares under a structured framework, as part of its effort to strengthen corporate competitiveness and enhance shareholder value. In its notice of convocation, the company disclosed that it will hold its 35th Annual General Meeting of Shareholders on March 24 and submit agenda items including approval of the treasury share cancellation and disposal plan, partial amendments to the Articles of Incorporation, appointment of directors, and approval of the financial statements including a cash dividend of KRW 750 per share. Celltrion plans to revise its Articles of Incorporation and obtain shareholder approval to clarify the legal basis for treasury share cancellation and disposal. The Company also aims to eliminate potential market uncertainty and maintain a transparent disclosure framework. In addition, the amendments will proactively incorporate the intent of the government-proposed Commercial Act revision by introducing an independent director system, mandatory cumulative voting, an increased number of separately elected outside directors, and electronic shareholders’ meetings, thereby strengthening shareholder rights protection. Celltrion intends to retain approximately 3 million shares out of its current treasury holdings of approximately 12.34 million shares for employee compensation purposes, including stock options already granted. This measure reflects shareholders’ requests to utilize treasury shares instead of issuing new shares for stock option exercises. Excluding the portion retained for stock option purposes, approximately 6.11 million shares, representing 65% of the Company’s treasury share holdings, will be cancelled, while the remaining approximately 3.23 million shares (35%) will be utilized to secure future growth drivers. After announcing that it would cancel all treasury shares acquired in 2025, Celltrion has already cancelled approximately 1.96 million shares. If the additional cancellation of 6.11 million shares is finalized, the total will exceed the entire amount repurchased in 2024 (2.39 million shares) and the remaining 2025 repurchases (2.98 million shares), and will also include shares acquired prior to 2023. The additional 6.11 million shares scheduled for cancellation correspond to approximately KRW 1.4633 trillion based on the closing price as of February 11. Funds secured through monetization will be utilized to strengthen capabilities necessary for Celltrion’s future growth, including development and acquisition of new technologies and investment in manufacturing facilities. Given the nature of the biopharmaceutical industry, where new drug development significantly impacts corporate value, the Company plans to deploy these resources as strategic investments to enhance mid- to long-term competitiveness. “This treasury share proposal reflects our commitment to embracing the intent of the Commercial Act revision currently under discussion in the National Assembly, establishing a transparent treasury share management framework, and prioritizing shareholder value,” a Celltrion official said. “We will remain committed to shareholders while securing future growth drivers and advancing toward becoming a global biopharmaceutical leader.” 

2026
02
12
Letter to Shareholders [U.S. Manufacturing Operations and Tariff Risk Position]

Dear Valued Shareholders, To address market concerns arising from recent references to changes in U.S. government tariff policies, we would like to share with our shareholders the current operational status of the Branchburg facility and our forward plans as follows. Initiation of CMO Production and Validation for In-House Product Manufacturing Following the successful completion of the acquisition of the former Eli Lilly facility late last year, we finalized a comprehensive inspection of the entire site and completed all preparations for full-scale operations by the end of January this year. Based on these efforts, we commenced full-scale production of Lilly CMO products across all lines beginning in February, thereby demonstrating the operational efficiency of our U.S. manufacturing facility. In parallel, Celltrion has initiated validation procedures required for the manufacturing of its own products. By integrating local manufacturing with its direct commercial network, we plan to establish a fully integrated system capable of supplying locally manufactured products to the U.S. market in due course. Structural Mitigation of Tariff Risks and Completion of Preemptive Measures Celltrion has completed all necessary measures to ensure that its business operations remain unaffected, regardless of how future U.S. tariff issues may unfold. Short-term Response: Sales will continue without tariff impact through the utilization of approximately two years of inventory already positioned within the United States.Mid- to long-term Response: Direct supply of products from the Branchburg manufacturing facility will enable the operation of a production-and-sales system that is fully insulated from tariff-related issues. In conclusion, despite the U.S. Supreme Court’s ruling invalidating reciprocal tariffs and the potential for future changes in tariff policy under the Trump administration, we have established a structurally resilient local production and supply system, ensuring that its operations remain unaffected by tariff-related uncertainties. Celltrion remains focused on closely monitoring local market conditions and making every effort to safeguard shareholder value. We sincerely appreciate our shareholders’ continued trust and support. 

2026
02
25
Letter to Shareholders [Company Statement Regarding U.S. Tariff Response Strategy]

Dear Valued Shareholders,On January 27, 2026 (KST), U.S. President Trump announced plans to restore reciprocal tariffs on South Korean goods to levels prior to the trade agreement.In response, our company has already established a fundamental solution to these tariff concerns by securing the Branchburg production facility in New Jersey, U.S. This strategic move allows us to structurally decouple our operations from such regulatory risks.The Branchburg facility officially commenced operations following an opening ceremony earlier this month, attended by key local and international dignitaries. We intend to utilize this facility as our primary hub for manufacturing products destined for the U.S. market. By integrating this local production with our direct sales network, we plan to accelerate the start of manufacturing to ensure a seamless and efficient product supply.Furthermore, we have finalized a time-phased response strategy to address any uncertainties regarding U.S. tariffs. During the transition period until the U.S. facility reaches full production capacity, we will continue our sales operations without any tariff impact, utilizing the two-year supply of inventory already stationed within the United States.By preparing comprehensive short-term and long-term response systems on the ground in the U.S., we are positioned to ensure that our business remains unaffected by any changes in tariff policy.We remain committed to closely monitoring local market conditions and ensuring the stable operation of our business. We will continue to provide updates to our shareholders to maintain your trust and support.Thank you. 

2026
01
27
Letter to Shareholders [Statement on the Request to Convene an Extraordinary General Meeting of Shareholders]

Dear valued shareholders, Celltrion, Inc. (“The Company”) hereby provides a detailed explanation to our shareholders regarding the current status of, and the Company’s clear position on, the recently submitted request to convene an Extraordinary General Meeting of Shareholders (“EGM”). While the Company remains firmly committed to listening attentively to the valuable opinions of our shareholders and is reviewing this matter with due responsibility, the review and decision-making process concerning a request to convene an EGM must be conducted fairly and transparently in strict accordance with applicable legal procedures, as it directly affects the rights and interests of all shareholders. Recently, the “Celltrion Minority Shareholders Special Committee” (the “Committee”) submitted a request to convene an EGM with agenda items including, among others: (i) reduction of capital (cancellation of treasury shares), (ii) removal of directors, and (iii) amendments to the Articles of Incorporation, together with other advisory shareholder proposals. To hear and understand the position of minority shareholders, the Company held a meeting with representatives of the Committee on December 2. At the meeting held for more than one hour, the Company provided the following clarifications: The Company is willing to proceed without delay with the procedures to convene an EGM if a request is duly submitted in compliance with applicable laws.However, the present request to convene an EGM does not satisfy the statutory requirements, as it lacks the basic supporting documents required under relevant laws and precedents.If the Company were to accept the request without conducting a reasonable legal review of the statutory requirements, it could give rise to issues such as a violation of the principle of shareholder equality.Nevertheless, in respect of the intentions of the shareholders who submitted the request, the Company is reviewing the possibility of voluntarily submitting to the next Annual General Meeting of Shareholders any legally permissible agenda items included in the request, such as the cancellation of treasury shares and the adoption of cumulative voting. Under the current Korean Commercial Act, shareholders who hold no less than 3 percent of the total number of issued and outstanding shares, or any person who has continued to hold stocks equivalent to no less than 1.5 percent of the total number of issued and outstanding shares of a listed company for more than six months may request convocation of an EGM. In addition, pursuant to the Act on Electronic Registration of Stocks and Bonds, objective evidentiary documents—such as certificate of ownership issued by the Korea Securities Depository—are required to substantiate that these statutory requirements have been met. However, the Committee claimed that it had received proxies from shareholders representing 1.71% of the total number of issued shares, and submitted as supporting documents only two shareholder lists and proxy forms as of two specific record dates, March 31 and September 30 of this year. Based solely on these materials, the Company was unable to verify whether the relevant shareholders satisfied the requirement of “continuous ownership for six months or longer” as of the date of the request to convene the EGM. Accordingly, both before and after the meeting, the Company repeatedly requested that the Committee submit materials—such as certificates of ownership—capable of verifying compliance with the statutory requirements. However, even as of the date on which the Company received service of a copy of the petition for court permission to convene an EGM, no additional supporting documents had been provided.Therefore, the Committee’s assertion that the Company unreasonably refused the request and failed to respect shareholders’ intentions is inconsistent with the facts. The Company will respond faithfully to the court proceedings concerning the request to convene an EGM in accordance with the law and established principles, and if the Committee supplements the request with the requisite basic supporting documents, the Company intends to proceed without delay with the procedures to convene an EGM. As the convening of an EGM directly affects the rights and interests of all shareholders, it is of paramount importance for the Company to accurately confirm compliance with the statutory requirements. The shareholder lists and proxy forms submitted by the Committee alone are insufficient to demonstrate that the legal requirements for requesting an EGM have been satisfied, making it difficult for the Company to proceed with the convening procedures. The Company has already communicated this position to the Committee on multiple occasions and has reiterated that such verification is an essential measure to ensure the legitimacy of the shareholders’ meeting. The Company places the highest priority on enhancing shareholder value and achieving sustainable growth together with our shareholders, and is making every effort to increase corporate value in pursuit of these objectives. Taking into account treasury share purchases and cancellations, cash dividends, and other shareholder return measures, the Company’s shareholder return ratio for this year is expected to significantly exceed—by several times—the three-year average target of 40% through 2027 presented in the Company’s value-up program announced earlier this year. The Company remains committed to further enhancing shareholder value through measures such as tax-exempt dividends and cash dividends going forward. We sincerely appreciate our shareholders’ continued trust and support. 

2025
12
18
Letter to Shareholders [Update on the Acquisition of Eli Lilly’s U.S. Manufacturing Facility]

Dear Valued Shareholders, On September 20 (local time), Celltrion entered into an agreement with global pharmaceutical company Eli Lilly to acquire its U.S. manufacturing facility. We have completed all required regulatory procedures related to the acquisition. We would like to take this opportunity to promptly share with our shareholders the details and progress of this important development. Following approval from Ireland’s Competition and Consumer Protection Commission (CCPC) last month, Celltrion has recently completed the “business combination” review process conducted by the Premerger Notification Office (PNO) of the U.S. Federal Trade Commission (FTC). The “business combination” review is a process to assess whether a merger or asset acquisition could potentially hinder market competition. Celltrion is to undergo regulatory reviews under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) in the United States and by the relevant authorities in Ireland due to exceeding certain local revenue thresholds. Upon deal closing, Celltrion plans to accelerate post-merger integration (PMI) by dispatching key personnel across various business areas to ensure a seamless transition with no disruption to operations. We will also provide tailored support to help existing local employees adapt quickly to organizational changes, taking into account regional characteristics. Through this acquisition, Celltrion secures multiple strategic advantages: elimination of tariff-related risks, mitigation of geopolitical uncertainties through manufacturing site diversification, and expansion of contract manufacturing (CMO) opportunities within the United States. In particular, the CMO business will be actively expanded around the Branchburg facility, leveraging the growing demand for pharmaceutical production in the U.S. Given the growing demand for CMO services in the U.S, Celltrion plans to utilize its extensive track record in biopharmaceutical development, manufacturing, and new drug CMO projects to attract new clients. Under the previously agreed CMO contract with Eli Lilly, revenue generation will begin immediately upon acquisition, allowing for early recovery of investment. Going forward, Celltrion will continue to pursue top-tier business performance while implementing shareholder-friendly policies to enhance shareholder value. We also remain committed to maintaining transparent and consistent communication regarding the company’s business plans and outlook. We sincerely thank all our shareholders for your continued trust and support for Celltrion.

2025
11
11