April 20, 2024

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[THE INVESTOR] Celltrion Healthcare’s copy version of Rituxan is increasing its market share at a faster pace than the company’s flagship product Remsima, biosimilar referencing Remicade in Europe, according to a local securities firm on Dec. 28.

Truxima, the company’s biosimilar of Roche’s blockbuster lymphoma treatment Rituxan, has taken away around 7 percent of the original drug’s market share in European countries as of end-September, according to IQVIA Institute. Rituxan generated over US$7.5 billion in global sales in 2016.

Starting with the UK in April this year, the product is being sold in nine countries including the France, Germany, Italy and Spain. It’s also set to expand to 28 European nations next year.

Tuxima’s debut came as Celltrion’s first biosimilar Remsima, referencing Johnson & Johnson’s inflammatory disorder drug Remicade, is aiming to overtake the original drug in Europe. However, Remsima’s first year market share stood at only 1 percent in 2014 to increase to nearly 50 percent this year.

“Truxima is expected to gain traction in the UK and other countries as Rituxan referencing biosimilar products’ market share hovers at around 25 percent in the UK,” said Kang Yang-koo, an analyst at HMC Investment Securities.

Along with Celltrion, Sandoz launched its copycat treatments in the UK. Faced with biosimilar uptake and price competition, Roche reported a 16 percent drop in Rituxan sales in Europe in the third quarter.

By Park Han-na (hnpark@heraldcorp.com)