Celltrion said on Monday that its consolidated revenue for the second quarter of this year was 524 billion won ($393 million won) and operating income was 183 billion won, down 12.1 percent and 10.1 percent year-on-year, respectively.  Net profit was down 18 percent to post 151 billion won. 

Celltrion explained that second-quarter sales and operating profit decreased year-on-year due to the timing adjustment of international procurement bids in the chemicals sector and a decrease in other sales such as service revenue. 

However, sales of biosimilars increased 10.4 percent year-on-year thanks to the subsequent supply of new pipelines, which improved the operating margin to 34.9 percent. 

Celltrion noted that its major antibody biosimilar products maintained a stable share in major global markets such as Europe and the U.S.

According to IQVIA and Celltrion Healthcare, in the first quarter of this year in Europe, autoimmune disease treatment Remsima (ingredient: infliximab) had a market share of 61.7 percent, blood cancer drug Truxima (ingredient: rituximab) had a market share of 22.1 percent, and breast/gastric cancer treatment Herzuma (ingredient: trastuzumab) had a market share of 19.2 percent.

In particular, Remsima and Truxima are leading the market with solid share gains over the original drug. In the U.S., Remsima, marketed as Inflectra in the U.S., secured a 30.2 percent market share, and Truxima, a 30.5 percent share in the first quarter.

Remsima SC (hypodermic injection type) also continues to grow in Europe, with a 17 percent share in Europe’s big 5 (EU5) as of the first quarter of this year with a  33 and 21 percent share in Germany and France respectively.

In particular, Remsima and Remsima SC have achieved a combined share of 68.5 percent in the EU5 market.

Celltrion expects the growth of Remsima SC in Europe to positively impact its entry into the U.S. market which is currently in the new drug application (NDA) process and is expected to be approved in October.

As the company aims to expand its biosimilar portfolio to 22 products by 2030, Celltrion is accelerating global clinical trials. It recently completed the European marketing authorization application for Xolair (ingredient: omalizumab) biosimilar CT-P39, the European and U.S. marketing authorization applications for Stelara biosimilar (ingredient: ustekinumab) CT-P43, and the U.S. marketing authorization application for Eylea (ingredient: aflibercept) CT-P42. 

“We will continue to file for licenses in other major countries around the world. Phase 3 clinical trials for Prolia biosimilar (ingredient: denosumab) CT-P41 and Actemra biosimilar (ingredient: tocilizumab) CT-P47 are progressing well,” said a Celltrion official. “We are working to secure the next generation of growth engines by expanding strategic alliances with companies with innovative drugs and platform technologies.”