Celltrion’s drug-making and distribution affiliates report strong Q3 earnings

2020.11.17 13:54:21 | 2020.11.17 15:48:22

[Photo provided by Celltrion Inc.]이미지 확대

[Photo provided by Celltrion Inc.]

South Korea’s largest biosimilar manufacturer Celltrion Inc.’s drug-making and distribution units reported strong earnings in the third quarter thanks to brisk sales of its own human immunodeficiency virus (HIV) drug, coupled with strong demand for flagship biosimilars – autoimmune disease treatment Remsima and blood cancer drug Truxima.

Celltrion Pharm announced on Monday its consolidated operating profit reached 5.84 billion won ($5.27 million) in the third quarter, up 46.4 percent from a year ago, on sales of 64.59 billion won. Sales grew 38 percent over the same period, while net profit almost doubled to 4.01 billion won.

The company in charge of manufacturing of Celltrion’s biosimilars and novel drugs attributed the strong performance to a commercial rollout in human immunodeficiency virus (HIV) drug CT-G7 to the global market in addition to steady sales of Celltrion’s three key biosimilars (Remsima, Truxima and Herzuma). Celltrion recently signed $16-million supply deals with international procurement organizations for the three-in-one-tablet for HIV treatment.

[Photo provided by Celltrion Inc.]이미지 확대

[Photo provided by Celltrion Inc.]

Its sibling Celltrion Healthcare, which handles overseas distribution of Celltrion biosimilars, also reported outstanding results in the third quarter. It said in a filing on Monday that its consolidated third-quarter operating profit soared 500 percent on-year to a quarterly record of 127.7 billion won over sales of 463.4 billion won, up 64 percent.

Celltrion Healthcare’s sales in the first three quarters amounted to 1.24 trillion won, already surpassing its full year revenue of 1.1 trillion last year.

Last week, its parent reported record quarterly income of 245.3 billion won, doubled from a year ago. It is out to rank top in the drug industry in sales this year as it beats traditional names with overseas sales of biosimilars.

Celltrion Pharm shares finished Tuesday up 2.13 percent at 124,700 won while Celltrion Healthcare fell 0.11 percent to 94,400 won.

By Park Yoon-gyun and Minu Kim

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