April 24, 2024
Bio
Celltrion’s supply deal for Remsima overseas doubles in Q1
[THE INVESTOR] Celltrion's sales contract with its overseas distribution affiliate for Remsima has doubled in the first quarter from a year earlier, hitting a record high.
Celltrion signed a 166.9 billion won (US$150 million) supply deal with Celltrion Healthcare to sell the drug -- its first biosimilar referencing Johnson & Johnson’s anti-inflammatory blockbuster Remicade -- in the January-March period, up from 85.2 billion won in the same period last year.
Celltrion signed a 166.9 billion won (US$150 million) supply deal with Celltrion Healthcare to sell the drug -- its first biosimilar referencing Johnson & Johnson’s anti-inflammatory blockbuster Remicade -- in the January-March period, up from 85.2 billion won in the same period last year.
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This means that exports of Remsima are growing at a fast clip as Celltrion Healthcare supplies biosimilar products from Celltrion to global partners including Pfizer and MundiPharma. Another affiliate Celltrion Pharma conducts domestic sales.
“The sales volume of Remsima will continue to rise as the product has been successfully launched in the US and its market share in Europe has risen steadily,” said Shin Hyun-joon, an analyst at the Hanwha Investment & Securities.
Remsima entered European markets in 2015 and the US market in December last year.
From January this year, Celltrion started disclosing the value of supply deals it inks with Celltrion Healthcare every month as investors have expressed concerns over the affiliate’s inventory levels.
By Park Han-na (hnpark@heraldcorp.com)
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