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Biz News Korea(Eng)
Celltrion’s Q2 earnings hit record high, operating profit up nearly 80%
- Collected
- 2017.07.26
- Distributed
- 2017.07.31
- Source
- Go Direct
According to its preliminary April-June statement, Celltrion Inc.’s operating profit jumped 79.4 percent on year to 138.3 billion won while sales increased 33 percent to 246.1 billion won ($220 million). Its operating margin as result reached 56.2 percent.
Operating profit more than doubled to 227.7 billion won in the combined first six months of the year. Sales jumped 51 percent to 442.7 billion won.
At 1:20 p.m. Wednesday, shares were up 1 percent at 112,200 won.
The company’s stellar performance owes largely to Remsima, the world’s first EMA and FDA-approved biosimilar version of infliximab. According to IMS Health data, Remsima took 42 percent versus its originator in Europe at the end of March, showing its pioneer position among its peers.
Remsima sold through Pfizer under the brand of Inflectra in the U.S. from the end of last year is rapidly adopted across the local medical community. Second-quarter prescription sales amounted to $21.35 million, up a whopping 218 percent from $671 in the first quarter.
Its follow-up product Truxima has been gradually launched in Europe since the EMA approval in February, contributing to the sales increase.
“We are well positioned to fend off any price competition with strong cost advantages,” said a company official.
By Kim Hye-soon
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]