Latest news with #RemsimaSC
Korea Herald
6 days ago
- Business
- Korea Herald
Celltrion expands presence in Italy with autoimmune, anticancer drugs
Korean biopharma scores seven contracts in first half of 2025 in major European market Celltrion has won bids to supply its autoimmune drug Steqeyma in seven states in Italy in the first half of this year to expand its presence in the country, the Korean biopharmaceutical company said Tuesday. According to Celltrion, it recently won the bids for autoimmune medicine in Veneto, Trentino-Alto Adige and Sardinia. The drug maker said it plans to supply Steqeyma to these regions through May. Celltrion pointed out that the drug rapidly secured contracts after launching in Italy in January. Remsima, Celltrion's flagship autoimmune drug, also continues to secure orders in Italy as it won a bid in the state of Umbria, while Remsima SC was able to renew a contract with Puglia. According to Celltrion, Remsima SC is being sold in all 20 states in Italy. Medicine market analyst IQVIA estimates that Remsima and Remsima SC combined for 66 percent of the Italian autoimmune drug market in the first quarter. Celltrion's anticancer drugs Truxima and Vegzelma won the bids in the states of Lazio and Umbria, respectively, earlier in the year, taking up 29 percent and 30 percent of the market. The company said it expects to keep supplying anticancer drugs in Italy as more bids are scheduled in the second half of the year. 'Based on high trust from major stakeholders in Italy's medical industry, a key pharmaceutical market in Europe, Celltrion's autoimmune treatments and anticancer drugs are expanding influence by logging a series of orders,' said Yoo Won-sik, general manager of Celltrion's Italian office. 'We will continue to launch new products and score more orders in the second half to expand the prescription of our products and keep up the growth of performance.'
Korea Herald
06-08-2025
- Business
- Korea Herald
Celltrion's Q2 net falls 19.3% on provisions
Celltrion, a major South Korean biopharmaceutical company, said Wednesday its second-quarter net profit fell 19.3 percent from a year earlier due to provisions related to ongoing legal disputes. For the three months ended June 30, net profit declined to 63.3 billion won ($45.6 million) from 78.4 billion won in the same period last year, the company said in a regulatory filing. "We set aside provisions in preparation for potential compensation related to ongoing legal disputes. These provisions impacted our quarterly bottom line," a company spokesperson said, without elaborating. Operating profit more than tripled to 242.5 billion won from 72.4 billion won, while sales rose 9.9 percent to 961.5 billion won from 874.7 billion won. The company said increased global sales of its flagship biosimilars, including Remsima SC, Yuflyma and Vegzelma, supported quarterly earnings. These high-margin products accounted for 53 percent of total sales in the second quarter. In the first half of the year, net income surged 73 percent to 171.6 billion won from 99.2 billion won a year earlier. Celltrion expects strong earnings to continue in the second half, as it plans to gradually launch five new biosimilars -- Omlyclo, Avtozma, Eydenzelt, Stoboclo and Osenvelt -- in global markets later this year. The company aims to achieve 5 trillion won in annual sales this year, up 40 percent from a record 3.56 trillion won last year. Celltrion has significantly expanded its global biosimilar portfolio, with the number of approved products rising from six to 11. It plans to commercialize 22 biosimilar products by 2030, when the global market is projected to grow to 261 trillion won from 138 trillion won this year. (Yonhap)
Korea Herald
28-05-2025
- Business
- Korea Herald
Celltrion's Remsima SC hits fivefold growth in Europe
South Korean biopharmaceutical firm Celltrion announced Wednesday that the market share of Remsima SC, the subcutaneous formulation of the autoimmune disease treatment infliximab, has quintupled across Europe over just four years. According to the company, citing global pharmaceutical market research firm IQVIA, Remsima SC captured a 22 percent market share as of last year, surging from 4 percent in 2021 following its debut in 2020. When combined with the share of Remsima, the intravenous version, Celltrion's Remsima product line commanded a 71 percent market share in Europe. Celltrion noted that Remsima SC's success in Europe bodes well for the US market, given that its recent inclusion of Zymfentra — another brand name for Remsima SC in the US — in major US insurance formularies is expected to drive accelerated adoption. Celltrion's other autoimmune treatments are also making significant inroads in Europe. Yuflyma, its adalimumab-aaty biosimilar, secured a 21 percent market share last year. Meanwhile, its ustekinumab biosimilar, Steqeyma, launched in Europe in October, captured more than 2 percent market share within just a few months. 'Remsima SC's growing presence in Europe can be attributed to its convenience, treatment efficacy and tailored sales strategies from our local subsidiaries,' a Celltrion official said. 'With our existing products leading prescriptions in Europe, we plan to continue our growth through the launch of new biosimilars during the remainder of the year.'
Hans India
21-05-2025
- Business
- Hans India
S. Korea's Celltrion expects limited impact from US executive order on price reduction
Seoul: Celltrion, a leading South Korean biopharmaceutical company, on Wednesday said it expects limited impact from recent US policy developments stemming from a drug pricing executive order signed by President Donald Trump. Last week, Trump announced an executive order introducing a most-favoured nation (MFN) pricing model, intended to align US drug prices with the lowest prices paid by peer nations, Yonhap news agency reported. The US Department of Health and Human Services released follow-up details on Tuesday, setting the MFN target price at the lowest drug price found in an Organization for Economic Co-operation and Development (OECD) country with a gross domestic product (GDP) per capita of at least 60 percent of that of the United States. "This announcement targets high-cost medicines," Celltrion said. "The impact on Celltrion's products is expected to be limited, as biosimilars, already available at lower prices and helping reduce drug costs through competition, are not included in the scope of this measure," the company added. It said the MFN pricing rule will provide an opportunity for biosimilars in the long run as it helps the US drug market become more competitive. Under the current US pharmacy benefit manager (PBM) system, original biologic drugs are typically given priority in formularies, limiting biosimilar adoption. Celltrion noted that its autoimmune disease treatment, Remsima SC, is unlikely to fall under the MFN pricing rule, as it is classified as an original biologic in the US but a biosimilar in other countries, while the MFN pricing model seeks to compare the US price of an original drug with its overseas price. The company pledged to respond swiftly to global regulatory shifts while continuing to grow its business. In 2024, Celltrion posted 3.56 trillion won ($2.57 billion) in sales.
Korea Herald
09-05-2025
- Business
- Korea Herald
Celltrion logs strongest Q1 sales
South Korean biopharmaceutical firm Celltrion reported record first-quarter revenue and a sharp jump in profit, as robust global demand for its next-generation biosimilars improved margins. Operating profit soared a whopping 870 percent from a year earlier to 149.4 billion won ($107 million) in the January-March period, while consolidated revenue rose 14.2 percent to 841.9 billion won, the South Korean biopharmaceutical firm said Friday. The earnings boost was attributed to the end of amortization costs tied to past mergers, enhanced inventory management and strong performance from high-margin products. Sales of key biosimilars, including Remsima SC, Yuflyma and Vegzelma, climbed more than 62 percent from a year earlier. Yuflyma, a treatment for autoimmune diseases, posted more than 100 billion won in quarterly sales for the first time, rising 1.6 times year-on-year. Vegzelma, a cancer treatment, secured a 28 percent prescription share in Europe's oncology biosimilar market, despite its relatively late market entry. Celltrion plans to launch four new high-margin biosimilars in the second half of the year and begin full-scale production of titer-enhanced products. The company expects revenue from new and follow-up therapies to make up over 60 percent of total sales by year-end. In drug development, Celltrion's multispecific antibody CT-P72 demonstrated strong tumor suppression and low toxicity in preclinical studies presented at the 2025 American Association for Cancer Research meeting. 'We've laid the groundwork for both quantitative and qualitative growth this year through strong performance from our next-generation biosimilars and cost-efficiency gains,' a company official said. 'With upcoming product launches and a solid new drug pipeline, we will continue to focus efforts on sustained growth.'
