Celltrion Healthcare said Thursday that it has successfully won bids to supply its biosimilars to Ecuador and Peru.
“Despite fierce competition, the company succeeded in winning orders for Truxima (Ingredient: rituximab) in Ecuador in the fourth quarter of last year and will exclusively supply the biosimilar in the Ecuadorian public market over the next two years,” the company said.
Celltrion expects that the latest contract will accelerate its expansion into Latin America as the company also won contract bids in Guatemala and Costa Rica last year. Truxima has obtained sales licenses in seven Latin American countries, and the company expects to receive sales approval in Brazil, Chile, and Peru this year.
The company also won bids for Remsima (Ingredient: Infliximab) in Peru last December. Remsima had already taken 95 percent of the Infliximab market share in the country, and the company expects that its drug will continue to dominate the Peruvian market.
Celltrion Healthcare also plans to launch Herzuma (ingredient: Trastuzumab) this year and will continue to communicate with regulators to obtain sales permits for the drug in major countries such as Brazil and Mexico.
Encouraged by the robust sales of its biosimilars in the Latin American countries, Celltrion will step up establishing four offshoots in four Latin American countries to expand its sales further.
“In most Latin American countries, which have a principle of free supply of medicines, their governments have a high preference for medicines that can save health insurance money,” a company official said. “As a result, the preference for biosimilars with high medical efficacy, safety, and price competitiveness is increasing.”
Celltrion plans to strengthen its marketing activities by establishing additional subsidiaries in the region, the official added.
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