April 27, 2024

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[THE INVESTOR] The biosimilar market is expanding especially in Europe and the US which will boost Celltrion Healthcare, said Mirae Asset Daewoo on Sept. 26, suggesting its stocks as “the most favored.”

The market is the early stage, with only three biosimilars available for antibody drugs -- Remicade, Enbrel and Rituxan -- and many, including the knockoff of global top seller Humira, are still in the pipeline, said analyst Kim Tae-heui. 

Korean biopharmaceutical companies are leading this promising market, and Celltrion and Samsung Bioepis in particular are the frontrunners, noted the analyst. 

Celltrion is the first to release biosimilars of Remicade and Rituxan and Samsung Bioepis of Enbrel and Herceptin, and Samsung BioLogics will be the world’s top contract manufacturing organization when its third factory starts operations next year, emphasized Kim. 

The market conditions are favorable and Korean companies have competitive edge, said the analyst suggesting a “buy” recommendation for Celltrion, Celltrion Healthcare and Samsung BioLogics. 

By Hwang You-mee (glamazon@heraldcorp.com)