Celltrion Reports 1Q Revenue of 550.6 Billion KRW... Operating Profit Down 32%

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

[Asia Economy Reporter Chunhee Lee] Celltrion recorded first-quarter sales of 550.6 billion KRW, a 20.5% increase compared to the same period last year. However, operating profit decreased by 32.2% to 142.3 billion KRW.

Celltrion announced on the 12th that its consolidated financial statements for the first quarter showed provisional operating results of sales at 550.598 billion KRW, operating profit at 142.281 billion KRW, and net profit at 121.241 billion KRW. While sales increased by 20.5% year-on-year, operating profit and net profit decreased by 32.2% and 39.2%, respectively. The resulting operating profit margin was 25.8%.

The company analyzed the factors behind the first-quarter sales growth, stating, "Our major antibody biosimilar product lines have maintained stable market shares in Europe, while in the U.S. market, 'Remsima' (U.S. sales name 'Inflectra') and 'Truxima' showed significant growth." On the other hand, regarding operating profit, they explained, "It decreased compared to the same period last year due to diversification of the sales portfolio," and added, "We plan to improve operating profit margin by strengthening cost competitiveness through various improvement activities aimed at yield enhancement and cost reduction."

Celltrion plans to expand the target market size for antibody biosimilars more than threefold by 2025 through the launch of new biosimilar products and market expansion. To achieve this goal, Celltrion is simultaneously conducting Phase 3 clinical trials for the 'Stelara' biosimilar 'CT-P43,' 'Eylea' biosimilar 'CT-P42,' 'Xolair' biosimilar 'CT-P39,' and 'Prolia' biosimilar 'CT-P41.' The 'Actemra' biosimilar 'CT-P47' also entered Phase 1 clinical trials in July last year.

A Celltrion official stated, "The steady growth of the biosimilar business and stable sales expansion in the chemical business led to a significant increase in first-quarter sales compared to the same period last year," adding, "We expect both sales and operating profit to grow together this year due to balanced growth in biopharmaceuticals and chemical pharmaceuticals. We will also accelerate the launch of follow-up products and continue the company's sustainable growth by expanding global market share."

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