Seojin Seok, CEO of Celltrion: "Jimpenetra to Reward Shareholders with This Year's Performance"

"Jimpentra's Poor Performance Due to Complexity of US Market"

Seo Jin-seok, CEO of Celltrion, is speaking at the regular shareholders' meeting held on the 25th at Songdo Convensia in Yeonsu-gu, Incheon. Photo by Celltrion

Seo Jin-seok, CEO of Celltrion, attributed the poor performance of the autoimmune disease treatment 'Jimpentra' (European sales name Remsima SC) last year to the "complexity of the US market" and said, "We will repay with results this year."

At the regular shareholders' meeting held on the 25th at Songdo Convensia in Yeonsu-gu, Incheon, CEO Seo explained the poor performance of Jimpentra by saying, "I don't think its potential has declined," and "I believe the potential remains, but the US market was more complex than other markets such as Europe." Celltrion had expected Jimpentra sales to be between 500 billion and 600 billion KRW last year, but actual sales amounted to only 36.6 billion KRW.

CEO Seo stated, "The PBM (Pharmacy Benefit Manager) registration process was complicated, and there was more paperwork compared to other regions, which delayed sales expansion and led to sales falling short of targets," adding, "However, if Jimpentra were a poor product or medicine, it would not have sold in Europe either." The European sales product Remsima SC currently holds a 25% market share in the top five pharmaceutical markets in Europe. CEO Seo said, "Most of the major listings for Jimpentra are now complete," and added, "Starting this year, we will deliver performance to reassure shareholders and repay them with results."