Celltrion, 3Q Operating Profit of 164 Billion KRW... 33% Decrease YoY

Incheon Songdo Celltrion Plant 2 Overview. / Incheon - Photo by Kim Hyunmin kimhyun81@

[Asia Economy Reporter Chunhee Lee] Celltrion succeeded in early achievement of 'annual sales of 1 trillion won' but recorded sluggish third-quarter performance compared to the same period last year.

On the 10th, Celltrion announced its third-quarter consolidated financial (preliminary) results. According to this, Celltrion's third-quarter sales amounted to 400.957 billion won, operating profit was 163.975 billion won, and net profit was 140.433 billion won. These figures represent decreases of 26.9%, 33.2%, and 20.1% respectively compared to the same period last year. However, the cumulative sales for this year reached 1.289695 trillion won, successfully achieving early entry into the '1 trillion won club.' This is also a 4.5% decrease compared to the cumulative sales of 1.350418 trillion won in the same period last year.

These results fell short of the third-quarter consensus surveyed by FnGuide. FnGuide had estimated that Celltrion would achieve third-quarter sales of 486 billion won, operating profit of 196.8 billion won, and net profit of 162.7 billion won.

A Celltrion official stated, "Due to an unexpected surge in demand in the U.S., supply of Remsima (U.S. sales name 'Inflectra') has expanded, and Truxima's market share growth continues," but also evaluated that "the contract manufacturing organization (CMO) sales of Teva's migraine treatment 'Ajovy' were deferred to the fourth quarter, and the sales proportion of Remsima, which has a relatively lower unit price compared to other products, expanded, affecting the decrease in sales and operating profit compared to the same period last year."

However, Celltrion's operating profit margin reached 40.9% due to the rapid growth of Remsima's market share in the U.S., increasing the proportion of highly efficient domestic production sales, and the steady market share expansion of Truxima. A Celltrion official said, "The strong sales of Remsima in the U.S. market are expected to act as a catalyst not only for financial impacts such as sales and operating profit margin but also for the future product transition from intravenous (IV) formulations to subcutaneous (SC) formulations."

This content was produced with the assistance of AI translation services.