Celltrion announced Wednesday that its metastatic colorectal and breast cancer drug, Vegzelma, has become the most prescribed bevacizumab in Europe, demonstrating strong growth in its market share.
According to market research firm IQVIA, Vegzelma accounted for 29 percent of bevacizumab-adcd prescriptions in Europe as of the third quarter of 2024. This marks a 9 percentage point increase from the previous quarter after its market debut in October 2022.
Despite entering the market later than some competitors, Celltrion said its European subsidiary has driven rapid growth through direct distribution. Since 2020, the company has shifted to a direct sales strategy for its portfolio, including Remsima, Herzuma and Truxima, which were previously sold through distributors.
Celltrion’s overseas branches have strengthened relationships with local bidding organizations and prescribers to expand market reach. As part of these efforts, the company secured a contract in June 2024 with UniHA, France’s largest drug procurement agency, allowing it to supply Vegzelma until 2027.
Additionally, Celltrion has continued to grow steadily in the autoimmune disease sector. In five major European markets -- Germany, Spain, the UK, Italy and France -- Remsima SC achieved a 25 percent market share, marking a year-on-year increase of 1 percentage point. To bolster its presence in Europe, the company has been gradually rolling out its product, Steqeyma, across various regions.
“With our existing products achieving remarkable success in Europe, the strong sales of our newer treatments further solidify our market leadership,” said a Celltrion official. “Building on this momentum, we aim to deliver outstanding results with our expanding portfolio.”
By Park Min-ha (en23mp@heraldcorp.com)
