[딜사이트 최광석 기자] Celltrion acquires Swiss pharmaceutical distributor ‘iQone Healthcare Switzerland’ (Icon) and begins direct sales of local medicines.
Celltrion announced on the 15th that it completed the acquisition process for Icon this month. The acquisition price is approximately 30 billion won in Hanwha. This acquisition was a decision made after comprehensive consideration of work efficiency and marketing synergy. ICON will be incorporated as a subsidiary of Celltrion’s Hungarian corporation in the future.
Switzerland has a relatively large pharmaceutical market relative to its population based on its high standard of living, and is considered a market with high potential for sales expansion due to high drug prices. According to pharmaceutical market research firm IQVIA, Switzerland has a stable sales performance of Celltrion’s major products, including the infliximab market worth approximately KRW 170 billion, as well as adalimumab (KRW 165 billion) and rituximab (KRW 50 billion). It has a market environment that will lead.
The fact that ICON is one of the fastest growing pharmaceutical bio companies in the region also made this acquisition possible. Icon recorded sales of 18.9 billion won in 2022, and the following year, 2023, it recorded sales of 29.6 billion won, growing 57% compared to the previous year.
In particular, the company explains that as Celltrion’s Swiss distribution partner since 2016, it has the advantage of having both a high understanding of products and experience in the Swiss pharmaceutical industry. Through this acquisition of ICON, Celltrion plans to rapidly expand direct sales performance by securing an already established local distribution network and professional manpower. In addition, in addition to Celltrion products, the company plans to actively utilize the copyrights for products licensed in by ICON to contribute to sales growth.
Celltrion expects this acquisition to accelerate the expansion of prescriptions in Switzerland. As of the second quarter of this year, the Remsima product line continues to show strong sales performance in Switzerland, recording a high market share of 61% (based on IQVIA). Celltrion predicts that sales will accelerate as a flexible pricing policy is added through the direct sales system while maintaining ICON’s sales strength and brand awareness. In addition, we plan to maximize marketing effectiveness by carrying out promotional activities to announce the start of Celltrion’s direct sales in Switzerland, such as holding a local event to commemorate the acquisition of ICON.
For follow-up products, we also established a strategy to quickly dominate the market in a stable sales environment using direct sales. In particular, as the autoimmune disease treatment Stellara biosimilar ‘Stechima’ and the eye disease treatment Eylea biosimilar ‘Idengelt’ are scheduled to be released next year, synergies are expected through expansion of treatment areas and diversification of product portfolio. .
Yoo Min-hyuk, head of Celltrion’s European business division, said, “With the successful acquisition of ICON, which has been in close contact with Switzerland for a long time, the transition to direct sales has been made in a safe direction without excessive time-consuming and disruption to business activities, laying the foundation for rapidly expanding prescriptions. “This acquisition has great significance in that we have promoted the expansion of our European business by acquiring a competitive local company, so we will do our best to ensure that it leads to actual sales results,” he said.
ⓒLooking at the market with new eyes. Deal site unauthorized reproduction prohibited
