Celltrion Healthcare Surpasses 1 Trillion KRW in Sales for First Half of the Year... Operating Profit Down 28.6%

"Continue Steady Prescriptions Focused on High-Profit Products"
Operating Profit Declines Due to Increased Costs from Direct Sales Market Expansion

Celltrion Healthcare achieved sales of 1.0294 trillion KRW in the first half of this year, surpassing 1 trillion KRW in sales for the first time in the first half.

Exterior view of the Celltrion Healthcare headquarters. [Photo by Celltrion Healthcare]

Celltrion Healthcare announced on the 14th that its consolidated sales in the second quarter of this year reached 525.8 billion KRW, a 1.31% increase compared to the same period last year. Operating profit for the same period decreased by 54% to 34.1 billion KRW, and net profit fell by 55.46% to 17.4 billion KRW.

Celltrion Healthcare explained that steady sales were maintained as prescriptions of highly profitable products were stable. In particular, prescriptions of the autoimmune disease treatment 'Remsima (generic name: infliximab)', which marked its 10th anniversary of launch in Europe, remained steady, while sales of the subcutaneous injection forms 'Remsima SC' and 'Yuflyma (generic name: adalimumab)' increased in Europe, driving sales growth.

However, operating profit for the first half recorded 85 billion KRW, down 28.6% compared to the same period last year. The company explained, "From this year, as the direct sales market expanded globally including the United States, various costs such as hiring local specialists increased," adding, "As the product launch regions expanded, marketing expenses such as local academic conferences and clinical activities increased, leading to higher selling and administrative expenses, which caused the decrease."

The company expects Celltrion Healthcare's performance growth to expand further in the second half. Celltrion Healthcare recently signed rebate contracts with major Pharmacy Benefit Managers (PBMs) and public insurance formularies in the United States to list Yuflyma as a preferred drug. The company is currently negotiating positively with multiple PBMs and plans to pursue more proactive negotiations by adding 80 mg and 20 mg dosages in the second half of this year. Additionally, based on the achievement of listing 'Vegzelma (generic name: bevacizumab)' in public insurance formularies covering about 20% of the total population, the company plans to continue expanding prescriptions by securing contracts in the private insurance market as well.

Expansion of sales in Europe is also expected to continue. As of the first quarter, Remsima SC recorded a market share of 33% in Germany, 21% in France, and 15% across Europe. The company explained that since Remsima SC is sold through individual marketing rather than bidding, it maintains high prices under limited competition, driving performance growth. Yuflyma is expanding its participation in bids within Europe and plans to continue expanding prescriptions by diversifying dosages with an additional 20 mg approval by the end of this year.

A Celltrion Healthcare official said, "Profitable products in Europe maintained steady prescription trends, achieving the highest-ever sales exceeding 1 trillion KRW for the first half," and added, "As Vegzelma and Yuflyma are positively negotiating with key stakeholders such as PBMs and private insurers in the United States, the world's largest pharmaceutical market, performance is expected to improve further."

The official also stated, "Through the company's commercial capabilities and product competitiveness, we will launch new products globally, expand sales regions, and strive to increase sales and improve profitability."

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