[Growth in the US Market] Celltrion Q1 Sales 550.6 billion, Operating Profit 142.3 billion

Celltrion announced that the operating profit in the first quarter was 142.3 billion won, which was reduced year-to-year by 32.1% on May 12.

The company recorded 550.6 billion of the sales revenue, which increased by 20.5% in the same period.

The company analysed the first quarter, “While the major antibody biosimilar product group showed stable market shares in Europe, Remsima and Truxima have grown dramatically in the US market, leading to the supply increase.”

It explained, “Operating profit decreased year-to-year due to diversification of the sales portfolio, but we will improve the operating profit margin through various improvement activities for increasing yield and reducing cost.”

Major antibody biosimilar products such as Remsima, Truxima and Herzuma are showing a stable market share in the autoimmune disease therapy and anticancer drug markets in Europe.

According to IQVIA, a drug market survey company, the market share in the European market was 51.7% for Remsima, 28.7% for Truxima, and 13.6% for Herzuma.

Also in the US, which is the world largest biopharmaceutical market, Remsima and Truxima are showing a steep growth, and expanding their market shares.

Remsima achieved a 27.5% market share in the US market in the first quarter of this year, and continues to grow, increasing its market share by 4.9% year-to-date as major US private insurance companies are expanding the preferred drug listings.

Truxima has also been steadily increasing its market share by quarter, and recorded a 27.2% share in the first quarter of this year.

Celltrion's main growth engine, Remsima SC, has recorded a steep quarterly average growth rate of 42% in Europe for the past year. In the US, phase 3 clinical trials are cruising with the goal of commercialization in 2023.

Celltrion plans to expand its target market of antibody biosimilar more than triple by 2025 through the launch of new biosimilar products and active market advancement.

To achieve this goal, Celltrion is carrying out simultaneously phase 3 clinical trials of Stelara biosimilar CT-P43, Eylea biosimilar CT-P42, Xolair biosimilar CT-P39 and Prolia biosimilar CT-P41.

An official from the company said, “Sales in the first quarter of this year increased drastically compared to the same period of the previous year, thanks to steady growth in the biosimilar business and stable sales expansion in the chemical business,” and “We expect sales and operating profit to grow together this year thanks to the even growth of biopharmaceuticals and chemical drugs.”

[WIKI KOREA=Cho Pil Hyun, Staff Reporter]