Celltrion Healthcare Reports 1.8045 Trillion KRW in Annual Sales, Operating Profit Down 45% Year-on-Year

[Asia Economy Reporter Lee Chun-hee] Celltrion Healthcare showed an 11% sales growth amid expanded prescriptions of its main products such as 'Remsima' and 'Herzuma.' However, operating profit fell by 45% due to a decrease in the proportion of sales in the U.S. market.

Celltrion Healthcare announced on the 8th that its consolidated financial statements for last year recorded annual sales of KRW 1.8045 trillion and operating profit of KRW 199.4 billion. Compared to the same period last year, sales grew by 10.8%, but operating profit decreased by 44.9%. Net profit for the period, which stood at KRW 152.56714 billion, also dropped by 36.5%.

The company explained the factors behind the sales growth, stating, "Prescriptions of key products such as Remsima (generic name 'infliximab') and Herzuma (generic name 'trastuzumab') have steadily expanded across global regions including North America," adding, "Sales performance of follow-up products including 'Rekikona (generic name 'regdanvimab')' also contributed."

In particular, Remsima, launched in the U.S. under the name 'Inflectra,' saw North American sales more than double compared to the previous year, supported by expanded listings with U.S. private insurers. As of January, it recorded a market share of 24.5% in the U.S., maintaining steady growth.

However, regarding operating profit, the company added that the decline was due to "a decrease in the proportion of U.S. sales compared to the previous year, despite stable sales generation in the U.S. market."

A Celltrion Healthcare official said, "Despite the challenging situation where marketing activities were restricted due to the ongoing COVID-19 pandemic last year, we achieved record-high performance based on expanded prescriptions of key products and sales performance of follow-up products," adding, "This year, with the full-scale sales of follow-up products such as 'Yuflyma' (generic name 'adalimumab'), along with the expansion of global direct sales and the launch of the Avastin biosimilar 'CT-P16,' we plan to fully enter direct pharmaceutical sales in the U.S., the world's largest pharmaceutical market. Based on a more diversified portfolio, we will continue to achieve both sales growth and profitability improvement, sustaining performance growth."

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