Blog

  • How firms respond to import competition: Labour force reduction, product/industry switching, and off-shoring

    As global trade has expanded – especially with the ascent of China – concerns about job losses and deindustrialisation in high-income countries have grown. While many studies document the level of impact of import competition on employment, we know less about how firms adapt. Do they downsize, switch product lines/industries, or reorganise production through offshoring to cushion the blow? In a recet paper (Ito and Matsuura 2025), we address these questions using a uniquely rich panel of Japanese firms spanning 1997–2014, focusing on three margins of adjustment: employment (especially production workers), industry switching, and offshoring (imports of intermediates from Asia). We also ask when these adjustments occur – either immediately or with a lag.

    Figure 1 documents a clear rise in Chinese import penetration into Japan from the late 1990s onward, with only a crisis-era pause. Over the same period, Japan’s manufacturing share of employment fell from 20.8% in 1995 to 15.3% in 2015) (Figure 2), providing prima facie evidence of structural pressure.

    Figure 1 Import penetration ratio from China

    Note: Chinese import penetration is computed as Import from China/Domestic demand, where Domestic demand = Domestic production + Imports from the world – Exports to the word.
    Source: Authors’ calculations based on System of National Accounts (Cabinet Office) and JIP database (RIETI).

    Figure 2 Share of manufacturing employment in Japan

    Source: Authors’ computation from the System of National Accounts (Cabinet Office of Japan).

    How do firms respond to intensifying import competition from China? Table 1 presents the distribution of firms according to their response patterns. Firms are categorised into four groups based on their reactions. The first group consists of firms that neither reduce employment nor switch industries, labeled “NoAdjust”. The second group includes firms that adjust employment only (“EmplAdjustOnly”), while the third group comprises firms that switch industries only (“IndSwitchOnly”). The fourth group consists of firms that adopt both strategies – employment adjustment and industry switching – labeled “BothEmplSwitch”. Employment adjustment is defined as a reduction of 10% or more in the number of production workers over the previous five years. Industry switching refers to a change in a firm’s primary four-digit industry classification.

    To assess the impact of Chinese import competition, we compare firms operating in the top and bottom five industries based on the extent of change in Chinese import penetration. Among all firms shown in column (1), 54% made no adjustments (NoAdjust), 30.5% implemented only employment reductions (EmplAdjustOnly), 9.2% switched industries without adjusting employment (IndSwitchOnly), and 6.3% pursued both strategies (BothEmplSwitch). Columns (2) and (3) present firms in the bottom five and top five industries, respectively, based on the degree of change in Chinese import penetration. In the bottom five industries, shown in column (2), 58% of firms did not implement any adjustments (NoAdjust). While the share of firms engaging in industry switching – either alone or in combination with employment reductions – was low, the proportion of firms implementing only employment adjustments was similar to that observed for all firms. By contrast, in the top five industries, presented in column (3), the share of firms that made no adjustments was lower, at 48%. The proportion of firms that engaged only in industry switching or that strategy in combination with employment reduction was notably higher at 11% and 9.7%, respectively. These patterns suggest that firms exposed to greater import competition from China are more likely to respond with a combination of employment adjustment and industry switching.

    Table 1 Firm’s reaction patterns

    Source: Authors’ computation from the Basic Survey of Japanese Business Structure and Activities　（BSJBSA）and the Census of Manufacture (COM) data of the Ministry of Economy, Trade and Industry (METI).

     Econometric analyses using the multinomial logit model demonstrated the following:

    • Rising imports have led many firms to reduce their workforce, with production workers experiencing significant losses, in line with the cases shown for the US in Autor et al. (2013) and Acemoglu et al. (2016).
    • Firms that engaged in product switching experienced less severe employment losses than those that did not, suggesting that product switching could be an effective coping strategy. This finding resonates with those found in Iacovone et al. (2013) and Miranda et al. (2011), among others.
    • Import competition has an immediate effect on the employment of production workers, whereas overall firm-level employment adjustment and product switching tend to occur with a delay of two to three years.
    • Offshoring also plays a crucial role in mitigating the adverse effects of import competition. This finding, which complements that in Hayakawa et al. (2021), highlights the importance of offshoring in sustaining employment and suggests that globalisation should not simply be regarded as a factor that reduces job opportunities.

    Author’s note: The main research on which this column is based (Ito and Matsuura 2025) first appeared as a Discussion Paper of the Research Institute of Economy, Trade and Industry (RIETI) of Japan.

    References

    Acemoglu, D, D Autor, D Dorn, G Hanson and B Price (2016), “Import Competition and the Great US Employment Sag of the 2000s”, Journal of Labor Economics 34(1): S142-S198.

    Autor, D, D Dorn and G Hanson (2013), “The China Syndrome: Local Labor Market Effect of Import Competition in the United States”, American Economic Review 103(6): 2121-2168.

    Hayakawa, K, T Ito and S Urata (2021), “Impacts of Increased Chinese Imports on Japan’s Labor Market”, Japan and the World Economy 59, 101087.

    Ito, T and T Matsuura (2025), “Import Competition and Restructuring Strategies: Evidence from Japanese firm-level data”, RIETI Discussion Paper Series 25-E-059

    Iacovone, L, F Rauch and L A Winters (2013), “Trade as an engine of creative destruction: Mexican experience with Chinese competition”, Journal of International Economics 89(2): 379–392.

    Miranda, V, M-M Badia and I Van Beveren (2012), “Globalization drives strategic product switching,” Review of World Economics 148: 45-72.

    Continue Reading

  • Integrating pollution registers for corporate climate-risk assessment

    The year 2024 was confirmed by the Copernicus Climate Change Service to be the warmest year on record globally, and the first calendar year that the average global temperature exceeded 1.5°C above its pre-industrial level. As climate change intensifies, the financial and regulatory risks facing businesses are under increasing scrutiny. Governments and financial institutions worldwide are aligning corporate reporting requirements with the recommendations of the Task Force on Climate-related Financial Disclosures.

    The EU has taken a decisive step by implementing the Corporate Sustainability Reporting Directive (European Commission 2023), mandating around 50,000 companies, including 10,000 foreign companies, to report on climate-related risks from 2025. While disclosure requirements are becoming more stringent, recent studies suggest that corporate climate disclosure is becoming too costly and often a mere box-ticking exercise, with firms engaging in ‘greenwashing’ or selective reporting of non-material risks (Bingler et al. 2022). This raises a crucial question: how can investors, regulators, and consumers ensure they have a clear, standardised, and comparable understanding of climate risks across industries and geographies at a reasonable cost?

    In November 2024, European Commission President Ursula von der Leyen announced the Omnibus Environmental, Social, and Governance (ESG) Regulation to consolidate and simplify corporate sustainability reporting obligations. Our background research and this column recommend a methodology that can support the simplification of reporting, while providing comparable and standardised data and maintaining reporting requirements for a large number of companies without extra burden.

    A novel and cost-effective approach to measuring climate risk

    In our recent research (Erhart et al. 2025), we propose a comprehensive method for assessing corporate climate risks by integrating data from major pollutant release and transfer registers and greenhouse-gas reporting programmes with satellite observations across 30 countries, including Australia, Canada, the EU, and the US. Our study analyses data from 70,000 industrial firms and their 170,000 facilities, offering an unprecedented large-scale approach to evaluating both transition and physical climate risks required by the Corporate Sustainability Reporting Directive and the related European Sustainability Reporting Standard (Figure 1).

    Figure 1 Climate change transition and physical risks covered in our study

    Notes: ESRS: European Sustainability Reporting Standard. GHG: greenhouse gas.
    Data sources: European Environment Agency, EU Pollutant Release and Transfer Register, US Environmental Protection Agency (EPA), EPA Toxic Release Inventory, Facility Level Information from the EPA Greenhouse Gases Tool (FLIGHT), Canadian National Pollutant Inventory, Australian Clean Energy Regulator, National Greenhouse and Energy Reporting, Canadian Greenhouse Gas Reporting Programme, Australian National Pollutant Release Inventory.

    Key findings: Climate risks are not uniform

    Our research highlights that climate risks manifest differently across industries and locations.

    1. Transition risk. Measured through reported greenhouse gas emissions, transition risk is highest for industrial plants in the US. Companies with high emissions may continue to face regulatory and market pressures to decarbonise or risk losing investor confidence in the long run.

    2. Physical risk. Assessed via historical data on cooling energy needs (heat risk), flood exposure, and photovoltaic power potential, physical risks are highly location-dependent. For instance, heat risk is more severe for firms in Australia, Southern Europe, and the southern US, while flood exposure is more pronounced in Central Europe and the eastern US (Figures 2 and 3).

    Figure 2 Flood exposure (maximum historical water discharge at industrial company sites)

    Notes: White bubbles on the map indicate company facilities without historical flood risk, while blue bubbles indicate company facility locations with historical flood risk.
    Source: Erhart et al. (2025).

    Figure 3 Heat risk of industrial company sites in the sample in cooling degree days

    Note: Map colour scale: green is the lowest heat risk (in terms of cooling degree days) and red is the highest. 2019 observations were used.
    Source: Erhart et al. (2025).

    3. No strong correlation between transition and physical risks. Unlike common assumptions, our findings indicate that transition and physical risks are not necessarily correlated at the company level. Some firms may have low emissions but face high physical risks due to extreme weather exposure, while others with high emissions may operate in less climate-vulnerable locations.

    Figure 4 No strong correlation between transition and physical risks

    Notes: Combined figure of Pearson correlation ratios and significance levels (upper right cells), indicator histograms (diagonal cells), pairwise scatter plots of indicators (lower left cells). (a) Heat risk (cooling degree days, cdd). (b) Flood risk, maximum historical water discharge (metres). (c) Photovoltaic potential, long-term average daily total of kilowatt-hour (kWh) from optimally tilted 1kWp panel. (d) greenhouse gas (equivalent in kilogrammes, Co2eqKg). 2019 observations were used for the greenhouse gas emissions.
    Source: Erhart et al. (2025).

    Policy and investment implications

    These findings have critical implications for policymakers, investors, and corporate managers.

    • Standardising risk disclosure. The lack of correlation between transition and physical risks underscores the need for a more comprehensive risk-assessment framework that captures both dimensions. Current reporting standards should evolve to reflect this complexity.
    • Investor strategy and portfolio diversification. Investors need to look beyond headline emissions figures and assess the physical climate risks embedded in their portfolios. Firms with high flood or heat exposure may require additional adaptation investments.
    • Corporate risk management. Businesses must develop holistic climate-risk strategies that integrate both mitigation (reducing emissions) and adaptation (enhancing resilience to climate impacts).

    A call for better data integration

    Our study demonstrates that publicly available pollution registers and satellite observations of physical climate risks offer a valuable, yet underutilised, resource for regular climate-risk assessments. However, these datasets remain fragmented across jurisdictions, limiting their effectiveness for global risk evaluation. We recommend greater international coordination in environmental reporting and data integration to enhance transparency and comparability.

    With upcoming regulatory changes, companies, investors, and regulators must adopt more rigorous and data-driven approaches to climate-risk assessment. By leveraging pollution registers and satellite imaging and radar observations, we can gain a clearer and more actionable picture of industrial climate risks, ultimately fostering a more resilient and sustainable global economy.

    References

    Bingler, J A, M Kraus, M Leippold and N Webersinke (2022), “Cheap talk and cherry-picking: What ClimateBert has to say on corporate climate risk disclosures”, Finance Research Letters 47(Part B).

    Copernicus Climate Change Service (2025), Copernicus: 2024 is the first year to exceed 1.5°C above pre-industrial level, Global Climate Highlights 2024.

    Erhart, S, S Szabó, and K Erhart (2025), “Integrating pollutant registers for the climate change risk evaluation of industrial companies in Australia, Europe and North America”, Nature Scientific Reports 15(1207).

    European Commission (2023), “New rules on corporate sustainability reporting: The Corporate Sustainability Reporting Directive”.

    EU (2023), “Regulation of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector”, PE/87/2019/REV/1.

    Continue Reading

  • [International Day of the Girl Child] Samsung Solve for Tomorrow and Samsung Innovation Campus Uplift Girls in STEM – Samsung Global Newsroom

    [International Day of the Girl Child] Samsung Solve for Tomorrow and Samsung Innovation Campus Uplift Girls in STEM – Samsung Global Newsroom

    Observed annually on October 11, International Day of the Girl Child celebrates girls around the world. Through Solve for Tomorrow and Samsung Innovation Campus (SIC), Samsung Electronics helps young women pursue STEM (science, technology, engineering and mathematics) careers and empowers them to strengthen their communities.

     

    Ahead of this year’s International Day of the Girl Child, Samsung Newsroom highlights the impact of these programs and spotlights young women forging meaningful careers in technology.

     

     

    India: From Beginner to Hackathon Winner

    Growing up in Bangalore, Vaishnavi Kambar had no exposure to coding and never imagined joining a hackathon. After developing her skills at SIC and gaining experience as an intern, she went on to win HackToFuture 3.0. How does someone go from knowing little about programming to claiming victory so quickly? For Kambar, the answer wasn’t a single breakthrough but steady support and collaboration at SIC. There, she advanced her technical abilities and gained the confidence to perform at a high level.

     

     

    Early in the program, Kambar worried her mentor might grow frustrated with her questions. Instead, she found patience and guidance. She credits this empathy as the foundation that encouraged her to keep learning and to speak up when in doubt.

     

    For Kambar, SIC was a turning point. She learned to present ideas, work in teams and solve problems under pressure — experiences that reshaped how she sees herself. Now, she urges other young women interested in technology or innovation to approach the journey with courage and an open mind.

     

    “Just take the plunge, even if you feel like you don’t belong. I started with no coding knowledge and a biology background,” said Kambar. “At times I felt like an outsider, but I kept going, one step at a time. Each time I pushed through the fear, I grew stronger.”

     

     

    Armenia: From Learner to Leader

    In Armenia, Hasmik Kettsyan discovered SIC as a place to grow. Although she already had coding experience, she often felt isolated in tech settings as the only girl in the room. At SIC, encouragement and trust created an environment where she could apply coding theory to real-world problems — a key step in finding purpose in her work.

     

     

    “Different perspectives lead to better solutions, and the field gets stronger when more people are involved,” said Kettsyan, now a tech professional who encourages more young women to enter the field. “Find people who support you and keep pushing yourself. Your ideas matter more than you might realize.”

     

    Inspired by her time at SIC, Kettsyan is now paying it forward. Soon after completing the program, she organized a technology summer camp for younger students in her community and began writing a book on innovation that she hopes to publish. For her, inspiring others has become one of the most rewarding parts of the SIC experience — and it continues to drive her to give back.

     

    China: Learning Through Challenge

    Ziyun Xu, a recent graduate of New York University Shanghai, is headed to Yale University to pursue her dream of protecting the environment. As a high school freshman in 2019, she wasn’t sure how to begin research. That changed when she joined Samsung Solve for Tomorrow, where she quickly learned the rigors of the process and advanced rapidly as a young scientist.

     

     

    At one point, Xu revised her project seven times in just three days — each requiring a complete rethink of her approach — while also reviewing 280 sources to strengthen her paper. The experience laid the foundation for more advanced work that later took her research beyond the lab.

     

    In Guangxi, Xu and her teammates worked in the countryside to design better-ventilated cattle sheds for local families, improve silage feed and use fermented cow dung to raise earthworms. Although farmers were initially skeptical, they grew to appreciate the team’s efforts. “The owner of the cattle farm sincerely thanked us for everything we had done,” she recalled.

     

     

    Xu credits Solve for Tomorrow as the stepping stone to her dream, providing girls an outlet to explore science while serving their communities. She has since carried that spirit forward — mentoring younger students and presenting her findings at global conferences. “Every girl should believe that an idea from her youth might change some corner of the world,” she said.

     

     

     

    Germany: Expanding Opportunities for Girls in STEM Around the World

    For girls interested in STEM careers worldwide, Solve for Tomorrow and SIC have built a legacy of empowerment and community impact. As a global leader in youth education, Samsung also runs initiatives such as Girls’DAI. At the April 2025 event hosted by Samsung Electronics Germany, 36 girls toured the Samsung Space at the company’s headquarters in Eschborn — exploring three levels of AI technology, experiencing Galaxy AI firsthand and learning about responsible and creative uses of AI.

     

     

    “Our Girls’DAI has shown how much potential lies in the next generation — bold questions, creative ideas and an open view of technology. Anyone who wants to shape AI needs these perspectives,” said Katharina Strohmeier, Project Manager of Corporate Citizenship at Samsung Electronics Germany. “Girls bring these perspectives, and that makes the future smarter, fairer and more diverse.”

     

    Whether by supporting girls to become accomplished researchers or by offering hands-on exposure to the latest technology, Samsung is committed to opening educational opportunities for the next generation worldwide.

     

    Learn more about Samsung’s CSR initiatives in the links below.

     

    Samsung Solve for Tomorrow is a global STEM competition that empowers students to develop creative, real-world solutions to community challenges while building skills, confidence and connections that prepare them to lead and inspire change.

     

    Samsung Innovation Campus is a global education program that equips youth — including underrepresented groups — with advanced IT skills in areas like AI, big data and IoT, along with hands-on training and mentorship to pursue careers, startups and social impact in the digital era.

    Continue Reading

  • South Korean ambassador attends 7th Asian Championships of Zurkhaneh Sports opening ceremony

    South Korean ambassador attends 7th Asian Championships of Zurkhaneh Sports opening ceremony

    URMIA- South Korean Ambassador to Iran, His Excellency Kim Junpyo, participated in the opening ceremony of the seventh Asian Championships of Zurkhaneh Sports and Pahlavani Wrestling (Koshti) on Wednesday.

    The ceremony was held in the 6,000-seat…

    Continue Reading

  • The Woman in Cabin 10 film review — Keira Knightley stars in a story desperately seeking intrigue

    The Woman in Cabin 10 film review — Keira Knightley stars in a story desperately seeking intrigue

    Stay informed with free updates

    Based on a novel by Ruth Ware, queen of lifestyle whodunits, The Woman in Cabin 10 could have been called The Strange Case of the Missing…

    Continue Reading

  • Hyundai Motor and PlusAI Recognized in TIME’s ‘Best Inventions 2025’ for Autonomous Hydrogen Fuel Cell Truck

    Hyundai Motor and PlusAI Recognized in TIME’s ‘Best Inventions 2025’ for Autonomous Hydrogen Fuel Cell Truck

    SEOUL/SANTA CLARA, CALIF., October 10, 2025 – Hyundai Motor Company and PlusAI’s autonomous XCIENT Fuel Cell Class 8 heavy-duty truck has been named one of TIME’s ‘Best Inventions of 2025’.

    For over two decades, TIME has published its annual Best Inventions list, spotlighting innovations that transform how we live, work and move. This year’s selection of 300 groundbreaking solutions highlights the industry-defining potential of Hyundai Motor and PlusAI’s hydrogen-powered autonomous truck.

    The award-winning truck integrates Hyundai Motor’s proven XCIENT Fuel Cell Class 8 heavy-duty truck platform — the world’s first mass-produced hydrogen-powered heavy-duty truck — with PlusAI’s Level 4 autonomous SuperDrive™ virtual driver. The combination delivers a cutting-edge solution for long-haul freight, enabling zero-tailpipe-emission operations and enhanced logistics efficiency.

    “This recognition by TIME is a testament to the power of innovation and collaboration,” said Chul Youn Park, Senior Vice President and Head of Global Commercial Vehicle and Light Commercial Vehicle Business Division at Hyundai Motor Company. “It’s a true honor to be recognized by TIME’s Best Inventions, which celebrates innovations that shape a better future. At Hyundai, we aim to contribute to building a sustainable and safe freight ecosystem through hydrogen-powered commercial vehicles. We deeply value our partnership with PlusAI, which has been instrumental in realizing this shared vision.”

    David Liu, CEO and Co-founder at PlusAI, added, “It is an honor to have TIME recognize our collaboration with Hyundai Motor as one of the Best Inventions of 2025. This award underscores PlusAI’s leadership as an AI-native technology company, where our autonomous driving system is designed from the ground up to deliver innovation with safety and scalability at its core. By combining Hyundai’s hydrogen fuel cell platform with our cutting-edge autonomous driving software, we are setting a new benchmark for sustainable and transformative freight transportation.”


    Continue Reading

  • Celltrion receives U.S. FDA approval for EYDENZELT® (aflibercept-boav), biosimilar referencing EYLEA® (aflibercept)

    Celltrion receives U.S. FDA approval for EYDENZELT® (aflibercept-boav), biosimilar referencing EYLEA® (aflibercept)

    • EYDENZELT® is approved for the treatment of patients with neovascular (wet) age-related macular degeneration (wAMD), macular edema following retinal vein occlusion (RVO), diabetic macular edema (DME), and diabetic retinopathy (DR)
    • Celltrion plans to enter the U.S. ophthalmology market to meet diverse needs of patients suffering from various eye conditions

    INCHEON, South Korea, Oct. 9, 2025 /PRNewswire/ — Celltrion, Inc. today announced that the U.S. Food and Drug Administration (FDA) has approved EYDENZELT® (aflibercept-boav), biosimilar referencing EYLEA® (aflibercept), for the treatment of neovascular (wet) age-related macular degeneration (wAMD), macular edema following retinal vein occlusion (RVO), diabetic macular edema (DME) and diabetic retinopathy (DR).[1]

    Aflibercept is a VEGF inhibitor formulated as an injection for the eye that blocks the growth of new blood vessels and decreases the ability of fluid to pass through blood vessels (vascular permeability) in the eye by blocking VEGF-A and placental growth factor (PlGF), two growth factors involved in ocular angiogenesis.

    “Timely access to effective therapies is essential for individuals affected by retinal diseases. We are proud to have EYDENZELT approved by the FDA, and we look forward to expanding the availability and access of biological treatments across the U.S.,” said Dr. Juby Jacob-Nara, Senior Vice President and Chief Medical Officer at Celltrion USA. “With EYDENZELT demonstrating biosimilarity to its reference product, we believe this approval will mark a significant milestone in the treatment landscape of retinal diseases—helping physicians broaden their options and improving patient outcomes.”

    The FDA approval was based on a totality of evidence including analytical, nonclinical, and clinical data. In a randomized, double-masked, parallel-group, multicenter phase III study of EYDENZELT, the efficacy, safety, pharmacokinetics, and immunogenicity of EYDENZELT was compared to EYLEA in patients with diabetic macular edema (DME). The 52-week trial included 348 patients with DME. The primary endpoint was the change in best corrected visual acuity measured at week 8 from baseline, comparing EYDENZELT and EYLEA. Results of the study showed that EYDENZELT met the predefined equivalence criteria, and secondary endpoints of efficacy, safety, and immunogenicity also showed trends similar to EYLEA.

    “Advanced age-related macular degeneration (AMD) is a leading cause of irreversible blindness and visual impairment in the world and nearly 20 million people in the U.S. are living with some form of age-related macular degeneration,” said Dr. David M. Brown, Director, Retina Consultants of Texas Research Centers, Co-chair, Medical Leadership Board Retina Consultants of America. “EYDENZELT will be an important new addition to our options for the treatment of our patients with serious retinal diseases.”

    EYDENZELT is Celltrion’s first FDA-approved biologic product in ophthalmology. EYDENZELT was also approved by the European Commission (EC) in February 2025.   

    ###

    About EYDENZELT® ( aflibercept-boav ) 

    EYDENZELT® (aflibercept-boav) is a vascular endothelial growth factor (VEGF) inhibitor referencing EYLEA® (aflibercept). EYDENZELT is approved based on a comprehensive data confirming the therapeutic equivalence EYLEA. In the U.S., EYDENZELT is indicated for the treatment of patients with neovascular (wet) age-related macular degeneration (AMD), macular edema following retinal vein occlusion (RVO), diabetic macular edema (DME) and diabetic retinopathy (DR).

    INDICATIONS

    EYDENZELT® (aflibercept-boav) is indicated for the treatment of patients with:

    • Neovascular (Wet) Age-Related Macular Degeneration (AMD)
    • Macular Edema Following Retinal Vein Occlusion (RVO)
    • Diabetic Macular Edema (DME)
    • Diabetic Retinopathy (DR)

    IMPORTANT SAFETY INFORMATION

    • EYDENZELT is contraindicated in patients with ocular or periocular infections, active intraocular inflammation, and hypersensitivity to aflibercept or any of the excipients in EYDENZELT.
    • Instruct patients and/or caregivers to report any signs and/or symptoms suggestive of endophthalmitis, retinal detachment, or retinal vasculitis without delay and should be managed appropriately.
    • Increases in intraocular pressure have been seen within 60 minutes of an intravitreal injection. Intraocular pressure and the perfusion of the optic nerve head should be monitored and managed appropriately.
    • There is a potential risk of arterial thromboembolic events (ATEs) following intravitreal use of VEGF inhibitors, including aflibercept products. ATEs are defined as nonfatal stroke, nonfatal myocardial infarction, or vascular death (including deaths of unknown cause).
    • The most common adverse reactions (≥5%) reported in patients receiving aflibercept were conjunctival hemorrhage, eye pain, cataract, vitreous detachment, vitreous floaters, and intraocular pressure increased.

    For more information, see Full Prescribing Information .

    About Celltrion , Inc.

    Celltrion, Inc. 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, hematology, 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.

    About Celltrion USA

    Celltrion USA is Celltrion’s U.S. subsidiary established in 2018. Headquartered in New Jersey, Celltrion USA is committed to expanding access to innovative biologics to improve care for U.S. patients. Celltrion currently has ten biosimilar products approved by the U.S. FDA: INFLECTRA® (infliximab-dyyb), TRUXIMA® (rituximab-abbs), HERZUMA® (trastuzumab-pkrb), VEGZELMA® (bevacizumab-adcd), YUFLYMA®(adalimumab-aaty), AVTOZMA® (tocilizumab-anho), STEQEYMA® (Ustekinumab-stba) STOBOCLO® (denosumab-bmwo), OSENVELT® (denosumab-bmwo), and OMLYCLO® (omalizumab-igec) as well as a novel biologic ZYMFENTRA® (infliximab-dyyb). Celltrion USA will continue to leverage Celltrion’s unique heritage in biotechnology, supply chain excellence and best-in-class sales capabilities to improve access to high-quality biopharmaceuticals for U.S. patients. For more information, please visit www.celltrionusa.com, and stay updated with our latest news and events on our social media: LinkedIn.

    FORWARD-LOOKING STATEMENT

    Certain 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.

    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”, 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 to 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 associated with the company’s business, including the risk factors disclosed in its Annual Report and/or Quarterly Reports, 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 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.

    Trademarks

    EYDENZELT® is a registered trademark of Celltrion, Inc.
    EYLEA® is a registered trademark of Regeneron Pharmaceuticals Inc.

    References

    [1] EYDENZELT U.S. prescribing information (2025)

    US–24-00028

    For further information please contact:
    Katie Gallagher
    [email protected]
    +1 617-657-1324

    SOURCE Celltrion


    Continue Reading

  • Asia demand drives Foodservice growth

    Asia demand drives Foodservice growth

    What is Fonterra’s Foodservice business? 

    Foodservice is the business of preparing and serving food and beverages outside the home. It includes a wide range of settings such as restaurants, bakeries, beverage outlets, cafeterias, and quick-service restaurants. 

    Fonterra’s foodservice brand, Anchor Food Professionals, supplies high-performing dairy products to customers in more than 50 countries. We work closely with these customers to help them meet the needs of their consumers by offering innovative dairy products and solutions that align with current food trends. 

    Our Foodservice business focuses on five key channels: bakery, beverage, dining, quick-service restaurants, and retailised foodservice, which includes supermarkets, convenience stores, and packaged snacks.  

    Continue Reading

  • Laura Agricola-Moss joins SICKDOGWOLFMAN in the role of Strategy Director – Campaign Brief

    Laura Agricola-Moss joins SICKDOGWOLFMAN in the role of Strategy Director – Campaign Brief

    October 10 2025, 9:52 am | BY Ricki Green | No Comments

    Melbourne independent,…

    Continue Reading

  • Morgan Rogers: England midfielder is the poster boy as Tuchel’s strategy vindicated

    Morgan Rogers: England midfielder is the poster boy as Tuchel’s strategy vindicated

    Thomas Tuchel may have expressed public displeasure with England’s fans after the emphatic Wembley win against Wales, but the performance of his players will have left him feeling only the warm glow of vindication.

    Tuchel delivered a…

    Continue Reading