Source Facts: Financial Supervisory Service Electronic Disclosure System (DART) / 2024-10-22
Disclosure Type: Single Sales / Contract Manufacturing Agreement
💡 3-Second Summary
Celltrion has signed a contract manufacturing agreement with TEVA Pharmaceuticals International GmbH to supply active pharmaceutical ingredients (API) for the migraine treatment AJOVY®. The contract value is approximately KRW 100B, representing 4.60% of Celltrion’s recent consolidated annual revenue.
📊 1. [Key Disclosure Content & Major Financial Figures Summary]
- Agreement Classification & Title: Other Sales / Contract Manufacturing Agreement (Contract Manufacturing of Active Pharmaceutical Ingredients [API] for Migraine Treatment AJOVY®)
- Contract Value: KRW 100,039,802,387 (Approx. KRW 100B)
- Exchange Rate Applied: Based on the initial trading rate on October 21, 2024 ($1\text{ USD} = 1,371.10\text{ KRW}$)
- Terms: Calculated based on purchase orders issued in October 2024, excluding value-added tax (VAT).
- Ratio to Recent Annual Revenue:
- Percentage: 4.60%
- Recent Revenue Base: KRW 2,176,431,531,380 (Consolidated revenue for the fiscal year 2023)
- Contract Counterparty: TEVA Pharmaceuticals International GmbH
- Relationship with the Company: None disclosed in the filing
- Contract Period:
- Start Date: October 21, 2024
- End Date: July 30, 2025
- Contract Date: October 21, 2024 (Based on the approval date of the corporate Purchase Order)
📈 2. [Expert Perspective: What This Disclosure Means for Investors]
This regulatory filing confirms that Celltrion has formally received and approved a Purchase Order (PO) from TEVA for manufacturing and supplying the active pharmaceutical ingredients of the migraine treatment AJOVY®.
From a financial perspective, the contract value of approximately KRW 100B represents 4.60% of Celltrion’s consolidated annual revenue in 2023. The execution window is structured over approximately nine months, spanning from October 21, 2024, to July 30, 2025. Because the contract value was translated using the exchange rate on the approval date ($1\text{ USD} = 1,371.10\text{ KRW}$), the final revenue recognized in local currency may fluctuate depending on currency exchange trends at the actual time of payment collection. Investors should monitor whether the supply is executed smoothly over the scheduled period without modifications.
📝 Editor’s Comment (by K-STOCK Editor)
This sales disclosure outlines a binding agreement initiated by Celltrion’s approval of a Purchase Order submitted by TEVA on October 21. The core facts establish the supply of active pharmaceutical ingredients for the original therapeutic product AJOVY® to TEVA’s global subsidiary.
Investors must recognize that this disclosure is limited to the specific Purchase Order issued in October 2024. The filing does not provide quantitative forecasts regarding future potential purchase orders or long-term operational contract extensions. Additionally, because the contract amount of approximately KRW 100B represents the aggregate value of physical shipments over the nine-month period, the exact timing of quarterly revenue recognition cannot be determined from this document alone.
Consequently, the objective checkpoints for investors to monitor going forward are twofold: first, whether the supply agreement is finalized by the scheduled end date of July 30, 2025, without any subsequent termination disclosures or value adjustment amendments; and second, the subsequent verification of the actual progress rate of this contract under the “Status of Single Sales and Supply Agreements” sections in future periodic corporate reports. Cross-referencing these quarterly and semi-annual reports is the necessary pathway to verifying when this contract begins contributing to Celltrion’s financial performance.
📢 Disclaimer & Source Information
Source: This content has been structured and newly drafted based on official data submitted to the Financial Supervisory Service Electronic Disclosure System (DART).
Investment Risk Warning: This content is provided for informational and linguistic reference purposes only. Under no circumstances does it constitute financial advice or a recommendation to buy or sell specific stocks. All investment decisions and financial liabilities rest solely with the investor.
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