Celltrion is making big moves in the European pharmaceutical market with its new autoimmune disease treatment, SteQeyma. The drug has already launched in five major European countries and represents the company's seventh biosimilar approved by the European Commission. With an ambitious growth strategy, Celltrion is targeting significant market expansion and aiming to reach 5 trillion won in annual sales by 2025. The company's strategic approach includes developing biosimilars and exploring new treatment options in the healthcare sector.
"By 2027, the company will also be able to post an annual revenue of 10 trillion won" - Seo Jung-jin, Celltrion Chairman
Seoul, Jan 23: South Korean drug major Celltrion's
autoimmune disease treatment has been launched in five major European nations,
the company said on Thursday.
Key
Points
1. Biosimilar treatment SteQeyma launches in
France, Italy, Spain, UK, and Germany
2. European ustekinumab market valued at $3.1
billion in 2023
3. Celltrion aims for 5 trillion won annual sales by 2025
The
treatment – SteQeyma -- is an ustekinumab biosimilar treatment for multiple
chronic inflammatory diseases. According to Celltrion, it was released in
France on Monday (local time), following its launch in Italy and Spain earlier
this month, Yonhap news agency reported.
The
launch in France follows its release in Britain last month and in Germany in
November. The drug won the European Commission's (EC) approval in August for
biologic therapy in gastroenterology, dermatology, and rheumatology
indications.
It
marked Celltrion's seventh biosimilar to win the EC's approval, following
Remsima, Truxima, Herzuma, and others.
Celltrion
said it plans to expand sales of SteQeyma in Europe and also introduce the
product in the US in the future.
According
to data from healthcare researcher Iqvia, the European ustekinumab market was
valued at $3.1 billion in 2023, with the global market size reaching $20.4
billion.
Meanwhile,
the South Korean drugmaker also aims to achieve annual sales of 5 trillion won
($3.58 billion) in 2025.
The
target will be driven by the growth of its biosimilar products and a new
treatment for autoimmune diseases, according to its chairman Seo Jung-jin in
November last year.
The
2025 sales target is 50 per cent higher than the 3.5 trillion won of annual
revenue expected to be recorded in 2024, Jung-jin said. "By 2027, the
company will also be able to post an annual revenue of 10 trillion won,"
he said.
Celltrion
also plans to commercialise 22 products, including biosimilars, by 2030.
In
December, last year, Celltrion also established a subsidiary in South Korea to
specialise in the contract development and manufacturing organisation (CDMO)
business.
The
new company, named Celltrion BioSolutions, plans to construct its first
manufacturing facility in South Korea, with a production capacity of 200,000
litres to manufacture various products, including antibody-drug conjugates, and
cell and gene treatments.
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