Celltrion achieved record quarterly revenue, marking significant growth in both sales and profits.
On July 27, Celltrion announced that its consolidated revenue for the second quarter reached 1.39 trillion won, with an operating profit of 451.8 billion won. This represents a 45% increase in revenue and an 86.3% rise in operating profit compared to the same period last year. The operating profit margin improved to 32.4%, up 7.2 percentage points from a year earlier.
The improvement in performance is attributed to stable growth in its core biosimilar products and the expansion of high-margin new products. Truxima maintained its market share leadership in the U.S. due to an expanded long-term supply contract, while Remsima also held the top position in key markets. In Japan, Herzuma achieved a record market share of 78%, surpassing 30% in Europe.
The growth of new products was even more pronounced. Revenue from new products increased by 76% year-on-year, accounting for 65% of total biosimilar product sales. Remsima SC surpassed a 32% market share in the five major European countries, and the U.S. product Jimpenda has seen a steady increase in prescriptions since its launch.
Uplima maintained its number one market share in the European adalimumab market while also increasing its share in the U.S. based on an expanded distribution network. Vegzelma continued to lead in Europe and secured a growth foundation by being listed in the formularies of major pharmacy benefit managers in the U.S.
The combined quarterly revenue from five new products—Idencel, Aptozma, Omriclo, Stoboclo & Osentbelt, and Stekima—exceeded 300 billion won, a 49% increase from the previous quarter.
Profitability also improved. The cost of sales ratio for the second quarter was 38%, down 5.4 percentage points year-on-year and 2.1 percentage points from the previous quarter. This improvement is attributed to a better product mix, the depletion of high-cost inventory, enhanced production yield, and increased process efficiency.
Despite accounting for research and development expenses, Celltrion maintained an operating profit margin exceeding 30%. The company expects to exceed its first-half performance as major country bids and the expansion of new product market shares ramp up in the second half. It aims to surpass its annual targets of 5.3 trillion won in revenue and 1.8 trillion won in operating profit set at the beginning of the year.
* This article has been translated by AI.
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