Celltrion signs largest-ever quarterly deal with global sales affiliate

Celltrion Inc., a South Korean biopharmaceutical giant, said Monday it will provide biosimilars worth 423.6 billion won ($323.6 million), its largest quarterly supply deal ever, to global sales and marketing affiliate Celltrion Healthcare Co.

The supplies include rheumatoid arthritis medicine Yuflyma, Remsima and its subcutaneous version Remsima SC, blood cancer treatment Truxima, early stage breast cancer medicine Herzuma and metastatic colorectal cancer drug Vegzelma.

Celltrion said it achieved the record-high quarterly supply deal thanks to strong demand for antibody biosimilars in the US and Europe and the sales growth of biosimilars such as Yuflyma and Vegzelma. The two drugs, respectively referencing Humira and Avastin, recently won overseas marketing approval.

In Europe, Remsima posted a 61.7% share in the infliximab biosimilar market during the first quarter. Truxima, a rituximab biosimilar, and Herzuma, a trastuzumab biosimilar, logged 22.1% and 19.2% shares in their respective markets, Celltrion Healthcare said based on healthcare industry research firm IQVIA’s data.

Remsima, branded as Inflectra in the US, recorded 30.2% in the country’s  infliximab biosimilar market during the second quarter. Truxima posted 30.5% of the rituximab biosimilar market there.   

Remsima's sales growth will accelerate the US Food and Drug Administration (FDA) approval of Remsima SC, which will be branded as Zymfentra in the country, a Celltrion official said.

In the first quarter, Remsima SC, dubbed as Zymfentra in Europe, continued to grow in the EU 5 – France, Germany, Italy, Spain and the UK – with a 17% share in the biosimilar infliximab market. It achieved 33% and 21% shares respectively in Germany and France in the January-March period, Celltrion Healthcare said.   

Celltrion will strive for a stable supply of the drugs as it expects its key biosimilar products to win marketing approval overseas, the official added.

Meanwhile, Celltrion Group began procedures to merge Celltrion with Celltrion Healthcare in August to save costs and address intra-group transaction issues.

The group aims to complete the Phase 1 merger by Dec. 28 of this year. After that, the group will merge the integrated entity with local distribution affiliate Celltrion Pharm Inc. as the Phase 2 merger around July 2024.

The group will consider listing its holding company if necessary, after completion of the merger of the three affiliates, group founder and Chairman Seo Jung-jin said at an investor relations meeting last month.

Write to Dae-Kyu Ahn at powerzanic@hankyung.com

Jihyun Kim edited this article.