Record-High Quarterly Sales and Operating Profit Expected
Sales Up 20% and Operating Profit Up 140% Year-on-Year
Celltrion is expected to achieve its highest-ever quarterly sales and operating profit simultaneously in the fourth quarter of 2025.
On December 31, Celltrion announced through a public disclosure that it expects consolidated sales of 1.2839 trillion won and operating profit of 472.2 billion won for the fourth quarter of 2025. Compared to the same period last year, this represents an increase of 20.7% in sales and 140.4% in operating profit.
If the fourth-quarter performance forecast is confirmed, annual sales for this year will reach 4.1163 trillion won, up 15.7% from the previous year, and annual operating profit will reach 1.1655 trillion won, up 136.9%. This marks the first time in the company's history that annual sales have surpassed 4 trillion won and operating profit has exceeded 1 trillion won.
This achievement is attributed to the stable growth of existing core products, along with the rapid sales increase driven by high-profit new products gaining traction in the global market. In the fourth quarter, all new products-including Remsima SC (marketed as Zymfentra in the US), Yuflyma, Begzelma, and Stekima-are expected to record double-digit growth rates, with their combined sales share projected to exceed 60%.
Profitability is also expected to accelerate going forward, as the impact of the merger with Celltrion Healthcare, completed in December 2023, has been fully resolved. In particular, the elimination of high-cost pre-merger inventory and the amortization of development costs, which had inevitably pressured operating profit, have now been completed. Coupled with improved production yields, operating profit is anticipated to increase further in the future.
The improvement in profit growth and outlook is also evident in the numbers. As of the fourth quarter of this year, the cost of goods sold ratio is estimated at 36.1%, down about 3 percentage points in just one quarter from 39% in the third quarter. Notably, fourth-quarter EBITDA is expected to reach 538.9 billion won, marking the highest quarterly figure ever. The company plans to continue its strategy of reducing costs and expanding profitability.
Production expansion for long-term growth is also underway. By the end of the year, the company plans to complete the acquisition of Eli Lilly's biopharmaceutical manufacturing plant in Branchburg, New Jersey, and from next year, will begin full-scale contract manufacturing (CMO) product supply and preparations for producing products for the US market.
The company has also established a mid- to long-term strategy for its contract development and manufacturing (CDMO) business. Celltrion and its US subsidiary will be responsible for facility investment and production infrastructure, while the CDMO-specialized subsidiary Celltrion BioSolutions, established last year, will handle global sales and project management for the CDMO business using these facilities. This approach maintains the existing CDMO business roadmap while enhancing flexibility to respond to changes in the external environment and strengthening responsiveness to global clients. In addition, the company plans to secure multiple new domestic facilities for both drug product (DP) and drug substance (DS) manufacturing.
A Celltrion representative stated, "We have applied conservative assumptions in consideration of market volatility until the final results are released," adding, "Starting in 2026, we will focus on solid growth based on our high-profit product portfolio."
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