[Click eStock] "Celltrion Healthcare, COVID-19 Treatment Expectations Still Valid"

Celltrion Healthcare's COVID-19 Treatment Regkirona Expected to Receive European Approval Within 2-3 Months
Remsima SC and Uplima Also Anticipated to Perform Well

[Asia Economy Reporter Gong Byung-sun] As predictions emerge that Celltrion Healthcare's COVID-19 treatment will receive approval in the European market, attention is focused on whether this will act as a momentum for stock price increases. Treatments such as 'Remsima SC' and 'Yuflyma' are also expected to be key growth drivers for major sales this year. Accordingly, Korea Investment & Securities has raised Celltrion Healthcare's target stock price from 140,000 won to 160,000 won, maintaining a 'Buy' investment rating.

Celltrion Healthcare's COVID-19 treatment 'Rekkironaju' is expected to be approved in the European market within 2 to 3 months. On the 18th of last month, Celltrion Chairman Seo Jung-jin stated at an online briefing, "We are knocking on the doors of the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA)." Among these, the EMA has already begun specific review procedures since last month. The EMA plans to focus on verifying whether Rekkironaju reduces the rate of progression to severe COVID-19, as well as the rates of visits to intensive care units and hospitalizations. Rekkironaju already received conditional approval in Korea on the 5th of last month.

There are also predictions that Celltrion Healthcare's infliximab subcutaneous injection formulation autoimmune disease treatment Remsima SC will be responsible for sales this year. Remsima SC is a treatment used for various immune diseases such as rheumatoid arthritis and inflammatory bowel disease, and is highly regarded for its convenience as patients can self-inject at their desired location without visiting a hospital. Jin Hong-guk, a researcher at Korea Investment & Securities, said, "Remsima SC has already been launched in six countries and is scheduled to be launched in Spain and Italy during the first quarter of this year," adding, "Considering the potential market, sales exceeding 1 trillion won are expected from Remsima SC."

The strong performance of the autoimmune disease treatment Yuflyma is also anticipated. Yuflyma is a biosimilar containing adalimumab used for rheumatoid arthritis, ankylosing spondylitis, and other conditions, and is the world's first high-concentration formulation to enter the market. The high-concentration formulation reduces the drug dosage by half compared to the low-concentration formulation but removes citrate, which can cause pain, thereby increasing marketability. Yuflyma obtained EMA approval last month and is scheduled to be sequentially launched in Europe starting from the second quarter.

Korea Investment & Securities has projected approximately 50% sales growth for Celltrion Healthcare this year. Researcher Jin said, "This figure does not take COVID-19 into account," and predicted, "While Remsima SC and Yuflyma drive growth momentum, the COVID-19 treatment will act as a catalyst for stock price increases."