This photo shows the sign of South Korea’s pharmaceutical giant Celltrion Inc. (Image courtesy of Yonhap)
SEOUL, Dec. 22 (Korea Bizwire) — Celltrion Inc., a major South Korean biopharmaceutical company, said Monday it has launched its biosimilar drug Stoboclo-Osenvelt in major European markets, following the product’s initial rollout in the United States in July.
Stoboclo-Osenvelt received sales approval from the European Commission (EC) in February, becoming a biosimilar referencing U.S. biotech firm Amgen’s osteoporosis treatment Prolia-Xgeva, the company said in a press release.
The product is now available in four European countries — Germany, Spain, France and Portugal — it said.
Celltrion plans to launch the biosimilar in additional European countries as it seeks to expand its share of the bone disease treatment sector.
The global market for Prolia-Xgeva was estimated at 9.2 trillion won (US$6.59 billion) last year.
Celltrion has been expanding its global biosimilar portfolio, increasing the number of approved products from six to 11. The company aims to commercialize 18 biosimilars by 2030 and 41 by 2038.
Its only original drug, Zymfentra, is currently sold in the U.S. to treat autoimmune diseases. The same product is marketed as Remsima SC in Europe and other regions.
(Yonhap)
