Celltrion Healthcare, a subsidiary of Celltrion, said Thursday that it recorded sales of 212.7 billion won ($187.9 million) in the third quarter of this year, a 26 percent increase from the same period last year.
The biosimilar company also registered 20 billion won in operating profit last year, up 74 percent from 2017, while posting a net profit of 6.4 billion won, down 30 percent.
“The sales of high-priced Inflectra, a Remicade biosimilar, were generated in the third quarter, while Herzuma, a Herceptin biosimilar, is rapidly expanding its market share in Europe,” the company said. “Operating profit was based on robust sales of the company’s three main products – Inflectra (Ingredient: infliximab), Truxima (Ingredient: Rituximab) and Herzuma (Ingredient: Trastuzumab).”
Inflectra's sales in the United States are steadily expanding, while Truxima and Herzuma are doing well in the European bidding competition, resulting in better sales and operating profit, it added.
In particular, Herzuma's European sales increased significantly in the third quarter.
Herzuma accounted for 36 percent of the company in the third quarter. Since its launch in Europe in the second quarter, the product has won orders from major bidding agencies in each European country.
For example, Herzuma has recently won orders from two bidding agencies, which account for about 40 percent of the Trastuzumab market in France, and has won a 7 percent market share in the Netherlands after its launch last month.
“Revenue and operating profit improved significantly year on year thanks to the U.S. shipment of Inflectra and full-fledged sales of Herzuma,” a company official said. “Celltrion Healthcare's sales and operating profit will continue to grow in the future as diversification of sales products in the U.S. will begin from 2019.”
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