Celltrion aims for $3.58 billion in annual sales next year

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Celltrion aims for $3.58 billion in annual sales next year

Published: 27 Nov. 2024, 19:56

Celltrion founder Seo Jung-jin talks during an interview with JoongAng Ilbo in Nov. 2020. [KIM SANG-SEON]

Korean drugmaker Celltrion plans to achieve annual sales of 5 trillion won ($3.58 billion) next year, driven by the growth of its biosimilar products and a new treatment for autoimmune diseases, its chairman said Wednesday.

The 2025 sales target is 50 percent higher than the 3.5 trillion won of annual revenue expected to be recorded this year, Celltrion Chairman Seo Jung-jin said in an investors relations meeting in Hong Kong livestreamed via YouTube in Korea.

"By 2027, the company will also be able to post an annual revenue of 10 trillion won," he said.

Seo said his company plans to introduce 11 products to the global market by 2025, including Zymfentra, which hit the U.S. market earlier this year, and that they will spearhead Celltrion's revenue growth.

Zymfentra is a subcutaneous injection formulation of Celltrion's infliximab Remsima, an autoimmune disease treatment.

Celltrion plans to commercialize 22 products, including biosimilars, by 2030.

Seo also unveiled the company's plan to expand into the contract research, development and manufacturing organization (CRDMO) business as aforementioned during the Morgan Stanley Global Healthcare Conference in September.

Celltrion will establish a CRDMO subsidiary in Korea by the end of this year and first build a production facility with a capacity of 200,000 liters (211,337 quarts) in the country.

"We expect to make a profit from the CRDMO business starting in 2028 [...] and to foster the business, we will establish a research center in the United States, Europe and India," Seo said.

Yonhap