Celltrion Achieves Record-Breaking First Quarter with Surging Biosimilar Sales
Celltrion announced impressive first-quarter financial results, reporting record consolidated revenue exceeding 1.14 trillion won ($783 million) and a substantial operating profit of 321.9 billion won.
The company experienced a significant 36 percent year-on-year increase in revenue, while operating profit surged by an outstanding 115.5 percent. This strong performance led to an improved operating margin of 28.1 percent, highlighting enhanced profitability.
Growth was primarily driven by high-margin new products, which saw sales jump by an remarkable 67 percent year-on-year. All eleven of Celltrion’s existing biosimilar products continued to generate stable revenue streams, complementing the success of newer offerings.
These recently launched products collectively generated 581.2 billion won in revenue during the first quarter alone, making up a significant 60 percent share of total revenue. This remarkable achievement was bolstered by major tender victories across Europe and expanded reimbursement coverage in the United States.
Omlyclo, successfully introduced in Europe in September of the previous year, rapidly secured substantial market penetration. Within just four months, it captured 98 percent of the market in Denmark, 80 percent in Spain, and 70 percent in the Netherlands, demonstrating rapid adoption.
In the US market, growth has also accelerated significantly, particularly with Zymfentra. As the world’s sole subcutaneous formulation of infliximab, Zymfentra recorded a more than threefold increase in prescriptions compared to the previous year, reaching unprecedented monthly prescription levels.
Building on this strong momentum, Celltrion is confidently projected to surpass its ambitious full-year targets of 5.3 trillion won in revenue and 1.8 trillion won in operating profit.
Further growth is anticipated in the second half of the year as high-margin products, recently launched, expand into additional global markets following strategic patent settlements. New product introductions in the US this year, including subcutaneous formulations such as Aptozma and Omlyclo, are also expected to serve as key drivers for continued robust growth.
A company official commented, “The robust growth observed in the typically slower first quarter was a direct result of the comprehensive market penetration achieved by our high-margin product portfolio. With increasing prescription volumes and successful tender acquisitions for our innovative new products, we anticipate an even greater acceleration in earnings growth moving forward.”
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