Celltrion said it has received approval from the Therapeutic Goods Administration (TGA) of Australia for the sale of Vegzelma, its biosimilar referencing Avastin (ingredient: bevacizumab).

Celltrion has secured the right to market Vegzelma in Australia for a range of indications approved for Avastin. These include metastatic colorectal cancer, non-small cell lung cancer, metastatic renal cell carcinoma, cervical cancer, epithelial ovarian cancer, fallopian tube cancer, primary peritoneal cancer, and glioblastoma.

With this latest approval, the number of commercialized products by Celltrion in the Oceania region is expected to increase to six, thereby boosting the company's influence and competitiveness in the region.

Australia, in particular, is known for its proactive biosimilar-friendly policies, encouraging the prescription of biosimilars and offering strong policy support.

As a result, Celltrion has progressively expanded its footprint in Australia.

After receiving approval for autoimmune treatment Remsima in 2015, the company has received approval for blood cancer treatment Truxima, breast and stomach cancer treatment Herzuma, and autoimmune disease treatments Remsima SC and Yuflyma.

The approval in Australia also comes after the company has been successful in securing approvals in a total of 39 major countries, including the U.S., Europe, U.K., Japan, and Korea.

According to the global pharmaceutical market research agency IQVIA, the worldwide market for bevacizumab stood at $6.51 billion in 2022.

"With this recent approval, we are poised to build a powerful oncology antibody trio in the biosimilar-friendly Oceania market with Vegzelma, Herzuma, and Truxima," a company official said. "We have also recently completed the application of a biosimilar referencing the autoimmune disease treatment Stelara in Australia, and we anticipate our influence in the Oceania pharmaceutical market will continue to grow."