Seoul: Celltrion Inc., a major South Korean biopharmaceutical firm, announced its ambitious plan to achieve 5 trillion won (US$3.46 billion) in sales this year, propelled by an expanded biosimilar lineup.
According to Yonhap News Agency, the company's annual target marks a 40.5 percent increase from its previous record high of 3.56 trillion won last year. This growth is fueled by the consistent performance of its flagship biosimilars, such as Remsima and Truxima, along with the expansion of its "young portfolio." This portfolio includes products like Remsima SC, marketed as Zymfentra in the United States, and Yuflyma, which are expected to significantly boost earnings this year.
The young portfolio's sales proportion jumped to 38 percent of Celltrion's overall sales in 2024, up from 26 percent the previous year. Celltrion has expanded its global biosimilar lineup by increasing its approved products from six to 11 and aims to commercialize 22 biosimilar products by 2030. The targeted global market size for biosimilars is expected to nearly double to 261 trillion won from 138 trillion won this year.
Celltrion is targeting an average of 30 percent sales growth for three years through 2027, supported by increased production and cost reduction. To enhance shareholder value, the company plans to continue repurchasing its own shares for cancellation in the coming years, having already canceled more than 700 billion won worth of stocks last year. This year, it has canceled 553 billion won worth of stocks and plans to cancel an additional 203 billion won.