Sales of KRW 524 billion, operating profit of KRW 183 billion, operating margin of 34.9%
Commencement of new profitable follow-on pipelines
Accelerated growth of Remsima SC centered on Europe, expecting U.S. approval within the year… Prospects for profitability expansion
Securing new growth engines by strengthening new drug development capabilities such as ADC
Celltrion announced on the 14th that it recorded sales of 524 billion won, operating profit of 183 billion won, and operating margin of 34.9% in the second quarter of this year through the disclosure of consolidated management results.
Celltrion CI
Compared to the same period last year, overall sales and operating profit decreased. It was analyzed that the cause was due to the adjustment of international procurement bidding timing in the chemical sector and the decrease in other sales such as service sales. However, sales of biosimilars, the main business, increased by 10.4% compared to the same period last year due to the supply of follow-up new pipelines, and thanks to this, the overall operating margin improved to 34.9%.
Key antibody biosimilar products maintain stable market share in major global markets
According to pharmaceutical market research institute IQVIA and Celltrion Healthcare, in the first quarter of this year, Remsima recorded a market share of 61.7%, Truxima 22.1%, and Herzuma 19.2% in the European market. In particular, Remsima and Truxima are leading the market with a solid market share that exceeds the original product. In the United States, as of the first quarter of this year, Remsima (US sales name: Inflectra) achieved a 30.2% market share and Truxima maintained a solid market share of 30.5%.
Remsima SC, an autoimmune disease treatment, accelerates its rise in the European market
Remsima SC continues to grow, recording a 17% market share in five major European countries (EU5) as of the first quarter of this year. In particular, it is growing rapidly, achieving a market share of 33% in Germany and 21% in France. Remsima SC is growing at the fastest rate even compared to blockbuster new drugs recently launched in Europe, and the combined share of Remsima and Remsima SC in EU5 reaches 68.5%. Celltrion believes that Remsima SC’s rising trend in the European market will have a positive impact on entering the US market in the future. Remsima SC is in the process of obtaining approval as a new drug in the United States, and is expected to obtain approval in October this year.
Front view of Celltrion Pharmaceuticals / Photo = Courtesy of Celltrion Pharmaceuticals
Celltrion, which is speeding up global clinical trials and approvals with the goal of expanding its biosimilar product portfolio to 22 by 2030, recently applied for European product approval for Xolair biosimilar CT-P39 and Stellara biosimilar CT-P43. has completed its application for European and US product approval, and US product application for Eylia biosimilar CT-P42, respectively, and plans to apply for approval in major global countries sequentially. In addition, Prolia biosimilar CT-P41 and Actemra biosimilar CT-P47 are currently undergoing phase 3 clinical trials smoothly.
All-out efforts to secure next-generation growth engines… Leaping forward as a new bio drug development company
It is also focusing on securing next-generation growth engines by expanding strategic alliances with companies that possess innovative new drugs and platform technologies. It is jointly developing an oral formulation of ‘adalimumab’ with Lani Therapeutics, which owns its own oral platform technology in the United States. In Korea, it is strengthening its big data analysis capabilities through joint development of genome biomarkers with Basgenbio. In addition, it plans to continue to expand strategic alliances and investments with various companies that have platforms and pipelines in the fields of antibody drug conjugates (ADC), bispecific antibodies, new antibody drugs, and microbiome.
An official from Celltrion said, “While major biosimilar products continue their stable growth in the global market, steady growth is expected as next-generation items such as Uplyma and Remsima SC are expected to expand their market share.” “We will strengthen our business competitiveness by proceeding with global clinical trials and approvals to expand our line without a hitch, and strive to advance our business portfolio to become a new drug development company.”
Reporter Kim Ji-yeon of Chemical News
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2023-08-15 11:51:52
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