2023-12-06 20:13:36
Celltrion, a South Korean biopharmaceutical company specializing in the development and production of biosimilars and new molecules, announced third quarter financial resultsa period in which it achieved preliminary operating profit of around US$205 million, an increase of 25.2% compared to the same period of the previous year.
An increase was also recorded in the company’s revenue from July to September 2023, which reached approximately US$509 million, an increase of 4.13% over the 2022 quarter. Net profit totaled US$169.9 million, accumulating growth of 32.58%.
Celltrion’s sales grew 4.1% in the period, compared to the same quarter last year, due to the expansion of biopharmaceutical products in global markets, such as the United States and Europe. In addition to leading biosimilars, such as infliximab, maintaining a strong market share, newly launched products, such as subcutaneous infliximab, have seen rapid growth.
According to the pharmaceutical market research provided by IQVIA, the combined market share of intravenous infliximab and subcutaneous infliximab in the five main European countries reached 69.8% in the second quarter, while the market share of the subcutaneous formulation alone exceeded 18.8%, registering rapid growth and gaining market share 36% in Germany and 25% in France. In the United States, infliximab maintained its leading position among biosimilars, with 29.9% of the market in the third quarter of this year.
“By 2025, Celltrion will expand its portfolio to 11 products, including medicines for autoimmune diseases, macular degeneration and dermatologicals”, informs the company.
Celltrion’s subsidiary – Celltrion Healthcare – recorded preliminary operating profit of US$38.7 million in the third quarter, down 30.35% compared to the same quarter in 2022. Revenue grew 30.45% in the period, to US$ $497 million, but net profit fell 67.44% to $34.3 million.
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