Over 10 Private Insurance Companies Successfully Listed in Prescription Compendiums
Including One of the Top 5
Celltrion Healthcare announced on the 23rd that it has successfully signed contracts with numerous major private insurance companies in the U.S. pharmaceutical market for the Avastin biosimilar 'Vegzelma' (generic name Bevacizumab).
Since launching Vegzelma in the U.S. market last April and achieving listing in public insurance formularies, Celltrion Healthcare has been negotiating with insurance companies to expand into the private insurance market. As a result, Vegzelma has been listed in the formularies of more than 10 private insurers, including one of the top five U.S. insurers by subscriber count. Through this, Celltrion Healthcare has succeeded in covering approximately 30% of the entire U.S. population, including public insurance.
Celltrion Healthcare plans to accelerate its U.S. market penetration by completing formulary listings. Furthermore, as positive negotiations are ongoing with several insurers, the company emphasized that it will actively carry out commercial activities to expand coverage to over 60% by early next year and increase prescriptions.
Celltrion Healthcare highlighted that its U.S. biosimilar industry experts have established locally specialized commercial strategies, securing direct sales competitiveness in the U.S. market. In particular, leveraging their networks, they have focused on strengthening communication with key stakeholders who have significant influence in the U.S. healthcare market, such as insurers and Group Purchasing Organizations (GPOs).
Celltrion Healthcare plans to continuously strengthen the distribution network and connections built through product sales. Utilizing this, it explained that follow-up products, including 'Zimpenetra' (the U.S. product name for Remsima SC), which is currently undergoing new drug approval procedures, will also continue to achieve successful market settlement.
A Celltrion Healthcare official stated, "Vegzelma, the first product directly sold through our local subsidiary in the U.S., gained strong confidence in direct sales success in the world's largest pharmaceutical market by securing public insurance formulary listing early after launch and subsequently signing contracts with numerous major private insurers. We will continue to strive for positive outcomes in ongoing negotiations with key channels and expand our influence within the U.S. biosimilar industry."
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