"Balanced Growth in US and Europe"… Celltrion's Q1 Operating Profit Up 55% (Update)

Celltrion's self-developed antibody biopharmaceutical 'Remsima SC'

[Asia Economy Reporter Choi Dae-yeol] Celltrion announced on the 8th that its consolidated operating profit for the first quarter of this year increased by 55.4% compared to the same period last year, reaching 120.2 billion KRW. Sales increased by 68.2% during the same period to 372.8 billion KRW, with an operating profit margin of 32.2%.

The world's first subcutaneous injection formulation of the autoimmune disease treatment infliximab, 'Remsima SC,' was launched in Europe starting February, and sales increased as supply expanded. Although the spread of the novel coronavirus infection across Europe reduced the number of patients visiting hospitals, this treatment is characterized by its self-administration capability.

Major antibody biosimilar products such as Remsima, Truxima, and Herzuma showed steady growth in key markets including the US and Europe. Remsima's market share in the world's largest pharmaceutical market, the US, exceeded double digits for the first time. According to the medical information provider Symphony, Remsima's market share in the US for the first quarter of this year was 10.1%. The US's top three insurer UnitedHealthcare added Remsima to its preferred drug list in October last year, steadily increasing its market share.

Truxima, the first rituxan biosimilar introduced in the US, increased its market share to 7.9% just five months after its launch. Additionally, chemical pharmaceuticals are steadily growing, with subsidiary Celltrion Pharm's liver disease treatment 'Godeks' maintaining the number one position in related product outpatient prescription amounts.

The company aims to accelerate the development speed of major new drug candidates and obtain approval for at least one follow-up product annually by 2030. The biosimilar CT-P17 of Humira, the world's highest-selling autoimmune disease treatment, is being developed with a higher concentration and a formulation that eliminates components causing pain during injection. Clinical trials for biosimilars of allergic asthma and chronic urticaria treatments, as well as colorectal cancer treatments, are also underway.

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