Celltrion’s founder and Chairman Seo Jung-jin announced on March 26 that the company aims to begin selling its biosimilar Truxima in the US within the second half of this year.
Seo -- who is in Tokyo on business -- made the announcement over the phone during Celltrion’s 28th shareholders meeting held on March 26 in Songdo, Incheon.
Celltrion’s founder and Chairman Seo Jung-jin
“Since Celltrion is directly shaping the sales strategy for the US market, instead of through our onsite partner, we will make sure to focus on gaining market share,” Seo said.
In November last year, Celltrion obtained marketing authorization from the US Food and Drug Administration for Truxima, a copy version to Roche’s blockbuster cancer drug Rituxan, which currently has around 5 trillion won ($4.41 billion) in market share in the US.
Seo also added that Herzuma, a biosimilar of Roche’s Herceptin, for which the company also obtained marketing authorization from the US FDA in December last year, will be launched at the beginning of next year, after the introduction of Truxima.
Moreover, Seo also laid out plans to establish a joint venture in China during the first half of this year to expand its presence globally. Celltrion and Celltrion Healthcare will fund 60 percent in the joint venture, which will be around 100 billion won, with the Chinese partner funding the remaining 40 percent.
The chairman once again emphasized that Celltrion aims to reach 5 trillion won in sales by 2020 and 30 trillion won by 2030.
By Song Seung-hyun (email@example.com)