Celltrion Healthcare, 2Q Sales 519 Billion KRW... Operating Profit Down 2.8%

[Asia Economy Reporter Lee Chun-hee] Celltrion Healthcare announced on the 16th that its consolidated earnings for the second quarter of this year were sales of 519.0513 billion KRW, operating profit of 74.08285 billion KRW, and net profit of 39.11619 billion KRW. Sales increased by 19.8% compared to the same period last year, but operating profit and net profit decreased by 2.8% and 38.6%, respectively.

The company stated, "Global prescriptions for all products have expanded evenly, with increased US sales of the autoimmune disease treatment biosimilar 'Remsima' (generic name infliximab), and the expansion of prescriptions for Remsima subcutaneous injection (SC), continuing the growth of highly profitable product lines." Regarding operating profit, they emphasized, "Unlike last year, despite the absence of performance from the highly profitable COVID-19 antibody treatment 'Rekikona,' we achieved similar operating profit, indicating continued growth in our core business."

Remsima (US product name ‘Inflectra’), which led the improvement in performance, has been rapidly growing each quarter after being listed as a 'preferred drug' by major US private insurers such as United Healthcare and Cigna. According to Symphony Health, it achieved a market share of 31% as of June, surpassing the 30% mark.

Additionally, in Europe, following the launch of Remsima SC, the advantage of the dual formulation?which can be expected to improve the therapeutic efficacy of infliximab and reduce disease relapse rates?has been highlighted, leading to simultaneous increases in market shares of both Remsima and Remsima SC. Second-quarter sales of Remsima in Europe increased by nearly 50% compared to the same period last year, and Remsima SC sales grew by 160% during the same period, showing a steep growth trend. Celltrion Healthcare explained that since the competitiveness of the dual formulation has been confirmed in major European countries such as Germany and France, the expansion of market shares for both products will accelerate in other countries as well.

A Celltrion Healthcare official said, "For the first time in the second quarter, sales exceeded 500 billion KRW, marking a significant growth trend. In particular, sales in growth markets such as Asia and Latin America increased substantially, accounting for 27% of total sales, which is encouraging as these regions are establishing themselves as key markets driving the company's performance growth. With major upcoming events such as the direct sales launch of anticancer drugs in Europe and the global launch of new biosimilars, we will do our best to sustain growth in the second half of the year."