November 21, 2024

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Celltrion headquarters in Yeonsu-gu, Incheon (Celltrion)

South Korean biopharmaceutical company Celltrion said Friday it achieved record revenue in the third quarter, driven largely by increased global prescriptions of its flagship biosimilar products.

According to a regulatory filing, Celltrion posted consolidated sales of 881.9 billion won ($645.7 million) for the quarter, a 31.2 percent increase from the same period last year. Operating profit totaled 207.7 billion won, with an operating margin of 23.6 percent. In particular, cumulative sales for the first three quarters reached 2.49 trillion won, surpassing the company's annual revenue from the previous year.

The company attributed this achievement to strong global demand for its biosimilars, especially in Europe and Latin America. Key products -- Remsima SC, Yuflyma and Vegzelma -- generated a combined 342.5 billion won in revenue, marking a year-on-year growth of 112.5 percent.

Celltrion stated it expects to meet its annual revenue target of 3.5 trillion won, with robust biosimilar sales in Europe and Latin America anticipated to further drive growth.

“The record-breaking sales were supported by both increased biosimilar prescriptions and improved cost efficiencies," a Celltrion official said. "We are committed to sustaining growth and maximizing our market reach.”

By Hwang Joo-young (flylikekite@heraldcorp.com)