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The Korea Herald
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THE INVESTOR
March 28, 2024

Bio

Celltrion Healthcare eyes sales unit in Europe

  • PUBLISHED :November 14, 2018 - 11:01
  • UPDATED :November 14, 2018 - 11:01
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[THE INVESTOR] Celltrion Healthcare, an affiliate of Korea’s leading biosimilar maker Celltrion, said on Nov. 14 it will set up a sales unit in Europe to generate stable revenue from biosimilars.

“The company is preparing for direct sales of biosimilars in Europe,” Celltrion Healthcare CEO and Vice Chairman Kim Hyeong-gi said in a meeting with reporters. “It is designed to retain profit down the road and boost price competitiveness.”


So far, Celltrion Healthcare has rolled out new biosimilars in Europe, the United States and most other countries via local sales partners, which has increased costs.

The envisioned establishment of a direct sales subsidiary in Europe is widely seen as a move to cope with intensifying industry competition to cut prices. It would remove fees paid to sales agents, thus helping maintain the company‘s price competitiveness, and secure more stable profits.

In the run-up to direct overseas sales, Celltrion Healthcare has started joint sales in Japan with local partners.

Kim also said sales of Celltrion biosimilars are expected to continue to grow in America. Currently, Celltrion Healthcare sells Remsima, which is effective in treating various diseases from rheumatoid arthritis to Crohn’s disease, through Pfizer.

“We are targeting to raise Remsima’s US market share to 13 percent to 15 percent (from the current 8 percent) by the end of this year,” he said. “The situation will become much better when Truxima and Herzuma go on sale after getting approval within this year.”

Truxima, which references Roche’s MabThera, is used in the treatment of rheumatoid arthritis and non-Hodgkin’s lymphoma, a type of cancer that affects the lymph nodes, and other diseases.

Herzuma, a drug based on Herceptin -- originally developed by Swiss pharmaceutical giant Roche Holding -- is a treatment for breast cancer.

Meanwhile, Kim shrugged off market jitters over the falling operating rate of Celltrion’s No. 1 plant in Incheon, west of Seoul, and its worsening profitability, which arose after it announced third-quarter profits last week.

“It is true that Celltrion’s third-quarter results were affected by the temporary shutdown of the No. 1 plant, which resulted in reduced output,” he said. “But the expansion of the plant will be soon completed.”

By Song Seung-hyun and newswires (ssh@heraldcorp.com)

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