Celltrion Surpasses 300 Billion Won in Quarterly Operating Profit for the First Time... High-Margin New Products Drive Growth

Sales Reach 1.029 Trillion Won, Operating Profit 301.4 Billion Won
Operating Margin Nears 30%

Celltrion announced on November 4 that it achieved record-high quarterly results in the third quarter of this year, with sales of 1.029 trillion won and operating profit of 301.4 billion won. Sales increased by 16.7% and operating profit by 45.1% compared to the same period last year. The operating margin reached 29.3%, approaching the 30% range for the first time since the merger, marking a clear recovery in profitability.

This improvement in performance is attributed to a shift in the sales structure toward high-margin new products. Sales of new biosimilar products such as Remsima SC, Zymfentra, Yuflyma, Vegzelma, and Stekyma reached 521.1 billion won, up 52% year-on-year, accounting for more than half of total biopharmaceutical sales. The proportion of new products in total sales stood at 54%, surpassing that of existing products (such as Remsima, Truxima, and Herzuma) for the first time.

Incheon Songdo Celltrion Plant 2 Exterior. Photo by Hyunmin Kim

By product, Yuflyma, a treatment for autoimmune diseases, showed rapid global growth, recording a cumulative 398.7 billion won in the third quarter and already surpassing its annual sales from last year. Remsima SC and the U.S. brand Zymfentra also maintained stable growth, posting 185.1 billion won and 28.1 billion won, respectively. Newly launched products in the third quarter, such as Stoboclo, Osenbelt (denosumab), and Omriclo (omalizumab), quickly established themselves in the European and U.S. markets, with combined sales exceeding 80 billion won.

Profitability improvement was also notable. The cost burden that had persisted since the merger (December 2023) was alleviated, bringing the cost of goods sold ratio down to the low 30% range. The company stated, "The cost ratio will improve further due to the end of merger-related effects and expanded production of the TI (yield improvement) version," adding, "A higher proportion of new products will accelerate the increase in profit margins."

Meanwhile, Celltrion is strengthening its global market strategy by successively launching a total of five new biosimilars (Stekyma, Osenbelt, Omriclo, Idengelt, and Aptozma) by the end of this year. The company also plans to secure a local production base and resolve tariff risks by acquiring a plant in Branchburg, New Jersey, in the United States, while additionally boosting revenue through contract manufacturing (CMO) sales.

A Celltrion official said, "Starting this year, our growth system centered on high-margin biosimilars has been fully established," adding, "We expect to set new records for both sales and profits through expanded global market coverage and increased prescriptions for new products."

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