Celltrion to strengthen biosimilar lineup in Australia
Celltrion's Steqeyma biosimilar product / Courtesy of Celltrion
Celltrion, a leading Korean biopharmaceutical company, said Thursday it will strengthen its biosimilar lineup in Australia to meet rising demand in the core Oceania market.
Celltrion recently launched two biosimilars in Australia: Omlyclo, a treatment for allergic diseases, and Steqeyma, treatment for autoimmune diseases, the company said in a press release.
The company plans to introduce two more biosimilars in Australia next year — Avtozma for autoimmune disease treatment and Stoboclo-Osenvelt for osteoporosis treatment.
"The Australian biosimilar market is expected to expand further as local authorities provide various support measures, including a simplified approval process, to encourage adoption of biosimilars," a company spokesperson said.
Previously, six Celltrion biosimilars were available in the Australian market: Remsima (sold locally as Inflectra), Remsima SC, Yuflyma, Herzuma, Truxima and Vegzelma.
In the January-June period, the company posted a net profit of 171.6 billion won ($123 million) on sales of 961.5 billion won.
Celltrion aims to achieve 5 trillion won in annual sales this year, up 40 percent from a record 3.56 trillion won last year.
The company has significantly expanded its global biosimilar portfolio, with the number of approved products rising from six to 11.
It plans to commercialize 22 biosimilars by 2030, when the global market value is projected to grow to 261 trillion won from 138 trillion won this year.