Celltrion announced on the 5th that it recorded sales of 596.1 billion won, operating profit of 19 billion won, and operating profit margin of 33.4% in the second quarter through an announcement of consolidated business results on the 5th. Sales and operating profit increased by 38.1% and 21.3%, respectively, compared to the same period of the previous year, and consolidated sales for the first half of the year exceeded KRW 1 trillion for the first time in history.
In the second quarter, growth was driven by the expansion of the biopharmaceutical market and the increase in sales of the chemical business in global markets such as the US and Europe. In particular, while major biosimilar items secured a solid market share in Europe, the supply of Remsima in the US rapidly expanded, resulting in a significant increase in biosimilar sales. At the same time, sales and operating profit increased significantly compared to the same period last year as the domestic chemical business and international procurement sectors continued to grow.
A Celltrion official said, “In major global markets such as the United States, we achieved significant sales growth compared to the same period last year thanks to increased demand for existing antibody biosimilars with Remsima as the mainstay and stable growth of the chemical business.” We will do our best to ensure steady growth through line development and continuous discovery of new growth engines.”
Celltrion’s flagship biosimilar products, such as Remsima, Truxima, and Herzuma, have steadily maintained a stable market share in the European autoimmune disease treatment and anticancer drug market. According to drug market research institute IQVIA and Celltrion Healthcare, in the first quarter of this year, Remsima recorded 52.3%, Truxima 26.5%, and Herzuma 12.6% market share in the European market. Recently, CT-P16, a biosimilar of Avastin, has obtained a marketing approval recommendation from the Drug User Advisory Committee (CHMP) under the European Medicines Agency (EMA) and is awaiting approval and market launch.
The fact that Remsima’s market share exceeded 30% in the US, the world’s largest pharmaceutical market, was also a major factor in the improvement in earnings this quarter. According to Symphony Health, a medical information provider, Remsima (US sales name Inflectra), an autoimmune disease treatment sold through Pfizer, recorded a market share of 30.8% as of the second quarter of this year, compared to the same period last year. It achieved a significant growth rate of about 13.6%.
Remsima SC is evaluated to have successfully entered the market, achieving a market share of 9.1% in the first quarter of this year in the European market two years after its launch. Humira biosimilar U-Pyma has already obtained approval for all indications Humira has, has started sales in major European countries, and is expected to receive approval from the US FDA within this year.
Celltrion is accelerating global clinical trials and development of follow-up products with the goal of launching a total of 11 products by 2025 and adding 10 more pipelines by 2030. As a major pipeline, CT-P16 (brand name Begzelma), a biosimilar of Avastin, applied for product license to domestic, US and European regulatory agencies last year and is expecting approval within this year.