Latest news with #Vegzelma
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.'
Korea Herald
28-03-2025
- Business
- Korea Herald
Celltrion's Vegzelma generates $56m in US, eyes growth in Europe, Latin America
Celltrion announced Friday that its metastatic colorectal and breast cancer treatment Vegzelma, which contains the active substance bevacizumab, generated over $56 million in revenue in the United States last year. According to data analysis from pharmaceutical market research firm IQVIA, Vegzelma achieved a market share of over 6 percent in the US by the end of last year. Out of Vegzelma's total annual revenue of 221.2 billion won ($151 million) in 2024, 75.8 billion won, roughly one-third, came from the US market. 'Despite being the fourth bevacizumab biosimilar to enter the US market, Vegzelma has achieved remarkable sales performance,' a Celltrion official said. 'This success is largely due to our US subsidiary's confidence in its direct sales capabilities, which has driven strong prescription performance particularly in the public insurance sector.' In the US, individuals aged 65 and older qualify for Medicare, a government-supported public health insurance program. Excluding private insurance-integrated Medicare plans, the pure Medicare market accounts for about 11 percent of the country's insurance sector. Since the market operates with government funding, treatment reimbursements are possible regardless of whether a drug is listed in an insurance company's formulary. Recognizing this, Celltrion's US subsidiary strategically analyzed Medicare's characteristics and intensified its marketing efforts in this segment. In Europe, Vegzelma entered the market two to three years later than competitors, but recently claimed the No. 1 position in market share. As of the third quarter last year, it occupied 29 percent of the European market, surpassing both the original drug and other competing biosimilars to become the most prescribed bevacizumab product. In Japan, within just one year of its launch Vegzelma secured 23 percent market share, ranking it second among biosimilar prescriptions by the end of last year. Celltrion plans to expand its footprint in Europe this year by launching Vegzelma in new markets, while seeking to reinforce collaborations with insurers in the US to improve reimbursement coverage. The company also aims to enter into Latin America and other regions to build a more stable revenue foundation.
Korea Herald
14-02-2025
- Business
- Korea Herald
Celltrion secures approval for new drug product plant in Songdo
Celltrion announced on Friday that it has received construction approval to build a new drug product (DP) manufacturing plant in Songdo, Incheon. The new facility, permitted by the Incheon Free Economic Zone Authority, will be located near the company's existing Plant 1 and have an annual production capacity of around 8 million liquid vials. Celltrion plans to complete construction in the first half of 2026 to begin full-scale commercial production in 2027. The plant will manufacture existing biosimilar products such as Truxima and Vegzelma, along with newly approved liquid vial treatments like Idencelt, Stekyma and Aptozuma. Pharmaceutical products are generally categorized into drug substances (DS), produced through processes such as cell culture and purification, and drug products, the finished form of the drug formulated for patient administration. With the expansion of its DP manufacturing capacity, the company anticipates a 30 percent reduction in production costs per product compared to current contract manufacturing organization expenses, strengthening its competitiveness in international bidding markets. The new DP plant will feature isolators to prevent exposure to hazardous substances, reducing contamination risks while enhancing operational efficiency through advanced manufacturing equipment and process automation. By integrating the new facility with the existing DP production line at Plant 2, the company aims to shorten product shipment timelines, improve workforce efficiency and enhance overall production capabilities. The increased in-house DP manufacturing capacity will also allow greater flexibility in global supply strategies. With expanded options for DS and DP supply, Celltrion can better adapt to country-specific market conditions and export requirements. Meanwhile, the company plans to adopt a flexible production strategy in the US by leveraging local CMO partnerships to mitigate potential tariff risks. This two-track approach is expected to enhance market responsiveness in line with global economic conditions. To meet the growing global demand for pharmaceuticals and expand its product portfolio, Celltrion has been strengthening its production capabilities. The company has secured a total DS production capacity of 250,000 liters, consisting of its 100,000-liter Plant 1, 90,000-liter Plant 2 and the recently operational 60,000-liter Plant 3. For DP production, the company currently manufactures 4 million liquid vials annually at Plant 2. With the additional 8 million vials from the new facility, Celltrion's total annual DP production capacity will increase to 12 million vials. "With the DP plant expansion, we can proactively respond to rising global demand and new product launches, ensuring a stable supply of high-quality pharmaceuticals," a Celltrion official said. "By strengthening our production capacity and cost competitiveness, we aim to accelerate global market expansion and drive company growth."
Korea Herald
05-02-2025
- Business
- Korea Herald
Celltrion's Vegzelma becomes Europe's top prescribed bevacizumab
Celltrion announced Wednesday that its metastatic colorectal and breast cancer drug, Vegzelma, has become the most prescribed bevacizumab in Europe, demonstrating strong growth in its market share. According to market research firm IQVIA, Vegzelma accounted for 29 percent of bevacizumab-adcd prescriptions in Europe as of the third quarter of 2024. This marks a 9 percentage point increase from the previous quarter after its market debut in October 2022. Despite entering the market later than some competitors, Celltrion said its European subsidiary has driven rapid growth through direct distribution. Since 2020, the company has shifted to a direct sales strategy for its portfolio, including Remsima, Herzuma and Truxima, which were previously sold through distributors. Celltrion's overseas branches have strengthened relationships with local bidding organizations and prescribers to expand market reach. As part of these efforts, the company secured a contract in June 2024 with UniHA, France's largest drug procurement agency, allowing it to supply Vegzelma until 2027. Additionally, Celltrion has continued to grow steadily in the autoimmune disease sector. In five major European markets -- Germany, Spain, the UK, Italy and France -- Remsima SC achieved a 25 percent market share, marking a year-on-year increase of 1 percentage point. To bolster its presence in Europe, the company has been gradually rolling out its product, Steqeyma, across various regions. 'With our existing products achieving remarkable success in Europe, the strong sales of our newer treatments further solidify our market leadership,' said a Celltrion official. 'Building on this momentum, we aim to deliver outstanding results with our expanding portfolio.'
