Celltrion's high-profit product line has been added to the formularies of major U.S. pharmacy benefit managers (PBMs). With the expansion of prescription drug reimbursement for local patients, the company is expected to accelerate its growth in the second half of the year.
On August 3, Celltrion announced that its autoimmune disease treatment Aptozumab (ingredient: tocilizumab) has been listed as a preferred drug in the formularies of the three largest PBMs in the U.S.: Express Scripts (ESI), CVS Caremark, and Optum. Reimbursement for patients began with ESI and Optum in the first quarter of this year, while CVS started last month.
Aptozumab was added to the public and private insurance formularies of Prime Therapeutics in December last year, and within about seven months, it has secured additional reimbursement coverage from the three largest PBMs in the U.S. It is estimated that the product now has reimbursement coverage from over half of the total insurance market in the U.S.
Celltrion's U.S. subsidiary is also negotiating the listing of the subcutaneous (SC) formulation of Aptozumab, which is set to launch this year, with one of the major PBMs. The company expects that the recent listing of the intravenous (IV) formulation will positively influence the negotiations for the SC formulation.
The osteoporosis treatment Stoboklo-Osanbelt (ingredient: denosumab) has also been listed as a preferred drug in the public insurance formulary of ESI, one of the three largest PBMs, with patient reimbursement effective from the first quarter of this year.
Celltrion plans to strengthen its strategy in the open market, which accounts for about 30% of the U.S. denosumab market, in addition to the PBM reimbursement market. The strategy is to leverage the product credibility gained through PBM listings and its local direct sales capabilities to expand market share.
A Celltrion representative stated, "The high-profit product line launched last year has been consecutively listed in the formularies of major U.S. PBMs, securing both brand credibility and reimbursement coverage. With new product launches and other key events expected in the second half of the year, we anticipate continued sales success for our major product lines."
Celltrion achieved confirmed sales of 1.3937 trillion won and an operating profit of 451.8 billion won in the second quarter, driven by stable sales of existing core products and increased global sales of high-profit new products.
* This article has been translated by AI.
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