Celltrion “Expands market share in Asia and Latin America… Diversifies growth axes”

Celltrion [068270] announced on the 20th that it is expanding its global business growth axis by securing a high market share in major markets in Asia and Latin America.

In Japan, the autoimmune disease treatment drug 'Remsima' (ingredient name: infliximab) recorded a market share of 48% as of last July, surpassing the original drug and ranking first in infliximab prescriptions.

A Celltrion official said, "Japan is a market with a market structure centered on traditional pharmaceutical companies and high entry barriers. We have expanded our market entry through a sales strategy that combines local partnerships and direct sales capabilities, and this time, we achieved first place in market share, proving our product competitiveness and the performance of our local business strategy."

Looking at the anticancer drug product line in the Japanese market, the shares of 'Herzuma' (ingredient name: Trastuzumab) and 'Begzelma' (ingredient name: Bevacizumab) reach 78% and 64%, respectively.

Celltrion reported that the market competitiveness of its flagship products is being confirmed in other Asian countries as well.

As of the first quarter of this year, Remsima's market share was 93% in Singapore, 84% in Hong Kong, 78% in Thailand, and 72% in Malaysia, ranking first in each market.

Truxima (ingredient name: rituximab) market share was also calculated to be 93% and 78% in Singapore and Thailand, respectively. In the case of Herzuma, it secured a 51% market share in Malaysia and 42% in Thailand.

Celltrion said it is also strengthening its market dominance in the Latin American market.

In Brazil, the largest pharmaceutical market in Latin America, Remsima's local private market share was about 60%.

In Costa Rica, Remsima and Truxima each recorded a market share close to 100%. Celltrion product lines also secured a market share exceeding 80% in Ecuador, the Dominican Republic, and Paraguay.

Celltrion explained that this sales performance in Asia and Latin America was due to its strategy to expand its global direct sales infrastructure.

As of the third quarter of this year, Celltrion operates corporations in 43 countries, of which 13 corporations are in major growth markets such as Asia and Latin America.

In Japan, the local workforce has been expanded to about 80, and the company has continued to expand its workforce and business base in Thailand, the Philippines, and Vietnam.

Celltrion plans to utilize its sales infrastructure to expand its product portfolio, including high-profit follow-up products.

In Japan, Remsima SC is scheduled to be launched next year, and in Thailand, the company is pushing for the launch of 'Omriclo' (ingredient name: Omalizumab), a treatment for chronic spontaneous urticaria and allergic asthma, and 'Stoboclo-Osenvelt' (ingredient name: Denosumab), a bone disease treatment.

We are preparing to launch Stechema in Malaysia and Singapore, and in Latin America, we plan to launch follow-up products, including Omriclo, and expand participation in public institution bidding.