One Equity Partners Portfolio Company Celltrion Healthcare Goes Public
NEW YORK – July 28, 2017 – One Equity Partners today announced that its portfolio company, Celltrion Healthcare Co., Ltd. (“Celltrion Healthcare” or “the Company”), has successfully completed its Initial Public Offering on KOSDAQ, the NASDAQ equivalent in South Korea. Celltrion Healthcare's IPO priced at the top end of its range, raising 1 trillion won (US$896 million) and commenced trading on July 28, 2017 with equity market value of 6.9 trillion won ($6.1 billion).
Celltrion Healthcare is the worldwide co-development and exclusive sales, marketing and distribution affiliate of Celltrion, Inc., a biopharmaceutical company specializing in the development of “biosimilars” and “biobetters” for monoclonal antibody drugs. Celltrion Healthcare has a global sales, marketing and distribution infrastructure in 115 countries with 34 partners including Pfizer and Teva.
“With the scheduled expirations of patents covering $80 billion of biologics by 2020, there is a significant opportunity for biosimilars to challenge the originators on price and expand the market,” said David Han, Senior Managing Director at One Equity Partners. “We are pleased that our investment supports Celltrion Healthcare’s co-development partnership with Celltrion, Inc. for its biosimilar, biobetter and other innovative drug pipeline. As the holder of global exclusive rights for all of Celltrion Inc.'s pipeline of drugs, Celltrion Healthcare is well positioned to capitalize on this market dynamic.”
One Equity Partners made its initial investment in Celltrion Healthcare in January 2012.
About One Equity Partners
OEP is a middle-market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an extensive track record generating long-term value for its partners. Since 2001, the firm has completed more than 150 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, and Frankfurt. For more information, please visit www.oneequity.com.
About Celltrion Healthcare
Celltrion Healthcare conducts the worldwide marketing, sales and distribution of biological medicines developed by Celltrion, Inc. through an extensive global network that spans more than 115 different countries. Celltrion Healthcare’s products are manufactured at state-of-the-art mammalian cell culture facilities, designed and built to comply with the US Food and Drug Administration (FDA) cGMP guidelines and the EU GMP guidelines. For more information please visit: http://www.celltrionhealthcare.com/