Gardasil dominates HPV vaccine mkt in KOR

with market share of “99.9%”

Q3 Gardasil and Gardasil 9 sales 35.3 bil won…5% increase YoY

Cost-effectiveness research in progress before NIP inclusion...for inclusion early next year

The human papillomavirus (HPV) vaccines Gardasil and Gardasil 9 have established dominance in the cervical cancer vaccine market.

 

As of Q3, their market share has reached 99.9%.

 

Following the expanded vaccination age limit and increase in domestic supply price, the quarterly sales of these vaccines increased to 35.3 billion won.

 

Gardasil 9’s sales may increase even further if President Yoon Suk Yeol include it into the National Immunization Program (NIP), as pledged.

 

Q3 Gardasil and Gardasil 9 sales 35.3 bil…Market share of 99.9% According to clinical research firm IQVIA, the sales of MSD's Gardasil and Gardasil 9 in Q3 were 35.3 billion won, a 5% increase from 33.6 billion won in the same quarter last year.

 

Gardasil and Gardasil 9 are vaccines for preventing HPV, which causes cervical cancer.

 

Gardasil prevents four types of HPV, and Gardasil 9 prevents nine.

 

Gardasil and Gardasil 9 were approved in 2007 and 2016, respectively.

 

As the company's more recent vaccine, Gardasil 9, is leading the market.

 

Its sales increased from 40.5 billion won in 2019 to 42.5 billion won in 2020, and to 72.6 billion won in 2021.

 

Last year, it posted 117 billion won, and it has already accumulated 80.2 billion won in sales by Q3 this year, making it likely to surpass 100 billion won in sales for the second consecutive year.

 

Gardasil also had shown good performance with sales of 20.6 billion won in 2019, 20.4 billion won in 2020, 21.3 billion won in 2021, and 26.7 billion won in 2022.

 

During these periods, Gardasil and Gardasil 9 have overtaken the competing drug GSK’s Cervarix, and established a lead.

 

As of the last quarter, their market share has reached 99.9%.

 

Since Q4 2021, their share has exceeded 99.0% and has been getting closer to 100%.

 

Cervarix managed to maintain quarterlsy sales of over 300 million won until Q4 of 2021, but this dropped to less than 100 million won from Q2 of last year.

 

Since the Q4 of last year, its quarterly sales have shrunk further to below 50 million won.

 

The pharmaceutical industry perceives it as discontinued sales-wise in the domestic market.

 

With expanded vaccination age limit and increased supply price….NIP inclusion likely to increase sales The surge in the Gardasil and Gardasil 9 usage is attributed to the expansion of the vaccination age limit and increased supply price.

 

As of July 2020, the vaccination age limit for Gardasil was extended from 9-26 years to 9-45 years.

 

At the same time, the awareness that not only women but also men should be vaccinated has become widespread.

 

MSD has consecutively raised the domestic supply price of Gardasil 9 in 2021 and 2022.

 

The Gardasil 9 price, which was 106,300 won (excluding VAT) in 2021, increased to 122,245 won in April of the same year.

 

In July of last year, it rose again to 132,636 won.

 

The price increase over two years amounts to 25%.

 

Inclusion of Gardasil 9 in the NIP is expected to significantly boost sales.

 

President Yoon Suk Yeol, during his presidential candidacy, pledged to include Gardasil 9 to the NIP.

 

As a follow-up, Korea Disease Control and Prevention Agency (KDCA) is currently reorderd research services for Gardasil 9.

 

Previous research service had concluded that Gardasil 9 lacked cost-effectiveness.

 

However, the KDCA has decided to conduct additional research to analyze the cost-benefit.

 

The KDCA re-ordered the related research service in May.

 

After obtaining results within this year, the KDCA plans to include Gardasil 9 in the NIP in Q1 next year.

 

With Gardasil 9’s NIP inclusion, the supply price may decrease because of the bidding process.

 

However, the widespread forecast is that the substantial increase in the number of vaccinated people will ultimately lead to related sales increase.