Celltrion tops KRW 1T in 2024 sales

Sales in North America·Europe KRW 1T↑

Last year's sales reached KRW 3.7092 billion…up 98% from the previous year

Major biosimilars generated highest sales in history

Celltrion's sales and operating profit are reported to be the highest in history due to expanded sales of biosimilars.

 

Its sales exceeded KRW 1 trillion in both North American and European markets.

 

According to the Financial Supervisory Service (FSS), Celltrion's operating profit for last year was KRW 1.2110 trillion, up 89.7% from the previous year.

 

The sales amounted to KRW 3.7092 trillion, up 98.0%.

 

Both sales and operating profit are the largest in history.

 

The company explained, "Existing products, including Remsima, Truxima, and Herzuma, have shown stable growth, and new products, including Remsima SC, Yuflyma, and Vegzelma, have generated a record high annual sales." Celltrion recorded KRW 1.0636 trillion in Q4 sales, up 178.0% Year-over-Year (YoY).

 

The company's quarterly sales exceeded KRW 1 trillion for the first time.

 

Celltrion's biological drug sales last year in both the North American market and the European market topped KRW 1 trillion for the first time.

 

Celltrion

Celltrion's sales of biological drugs in the North American market reached KRW 1.0453 trillion, a 66.1% increase from the previous year.

 

Inflectra showed steady performance, and Truxima, Yuflyma, Zymfentra, and Vegzelma also showed sales growth.

 

Biological drug sales in the European market increased from KRW 986 billion in 2023 to KRW 1.5468 trillion last year, an expansion of 56.9%.

 

As the expansion of new drug sales accelerated, sales rose significantly.

 

Annual sales of the intravenous (IV) formulation Remsima, a biosimilar to Remicade, alone exceeded KRW 1 trillion for the first time in history.

 

According to market research firm IQVIA, Remsima's European market share is reported to be 62% as of Q3 of last year.

 

Including Remsima SC, it showed high market share in major European countries: 88.8% in the U.K., 80% in France, 75.8% in Spain, and 73.8% in Germany.

 

Guided by a pharmacy benefit manager (PBM), Remsima SC, sold as a new drug in the United States, has been listed on approximately 90% of formularies in the U.S.

 

insurance market, and the production continues to increase significantly.

 

Truxima, a biosimilar to the anticancer drug MabThera, is recording a market share of 30% range in Europe and the United States.

 

Herzuma, a biosimilar to anticancer drug Herceptin, shows market share of 72% in Japan.

 

Biosimilar version of autoimmune diseases treatment Humira is expanding its market share in both Europe and the United States.

 

Last year's sales more than doubled compare to the previous year, recording KRW 349.1 billion.

 

The 2024 global sales of Vegzelma, a biosimilar to the anticancer drug Avastin, expanded more than four-fold compared to the previous year, with KRW 221.2 billion.

 

Based on the company's direct-sales marketing network and competitive production cost, Vegzelma showed fast growth, recording a market share of 29% in Euope and reaching No.1 in the list.

 

Celltrion employee said, "This year, we will ensure the internal stability of the company by launching a new portfolio, improving production cost, and generating cost-effectiveness.

 

We plan to continue company growth quantity-wise and quality-wise." He said, "This year's production cost rate will be improved quickly by depleting the remaining stock with high production costs, expanding Plant 3 production, and terminating compensation for the development cost of existing products.