This undated file photo shows the sign of South Korea’s pharmaceutical giant Celltrion Inc. (Image courtesy of Yonhap)
SEOUL, March 18 (Korea Bizwire) — Celltrion Inc., a major South Korean biopharmaceutical firm, said Tuesday it aims to achieve 5 trillion won (US$3.46 billion) in sales this year, helped by an expanded biosimilar lineup.
The annual target is 40.5 percent higher than the record high of 3.56 trillion won it posted last year.
The consistent growth of its flagship biosimilars, such as Remsima and Truxima, and the expansion of its “young portfolio,” which includes Remsima SC, sold as Zymfentra in the United States, and Yuflyma, will continue to drive up its earnings this year, Celltrion said in a press release.
The sales proportion of the young portfolio jumped to 38 percent of Celltrion’s overall sales in 2024 from 26 percent a year earlier.
Celltrion has significantly expanded its global biosimilar lineup, increasing the number of approved products from six to 11.
It aims to commercialize 22 biosimilar products by 2030, when the targeted global market size is expected to nearly double to 261 trillion won from 138 trillion won this year.
Celltrion said it is targeting to report an average of 30 percent sales growth for three years through 2027 on the back of increased production and cost reduction.
To enhance shareholder value, the company plans to continue to buy back its own shares for cancellation in the coming years.
Celltrion canceled more than 700 billion won worth of its stocks last year.
This year, it has already canceled 553 billion won worth of stocks and plans to cancel an additional 203 billion won.
(Yonhap)
