Seo Jeong-jin, targets sales of 5 trillion won for new drugs

Chairman of Celltrion

Remsima SC formulation approved in the U.S

Expect superior profits compared to Europe

Celltrion Group Chairman Seo Jeong-jin is explaining future plans at a press conference on the 25th

Seo Jeong-jin, Chairman of Celltrion Group, presented a goal to increase global new drug sales to 5 trillion won by 2030, focusing on 'Zymfentra', which was recently approved as a new drug in the United States.

 

Chairman Seo made this announcement at a press conference held at NH Investment & Securities in Seoul on the 25th.

 

Previously, Celltrion set the group's total sales target of 12 trillion won in 2030.

 

The plan is to increase sales by adding new drugs as well as existing biosimilars.

 

Chairman Seo predicted that Zimfentra would play a pivotal role here.

 

Zymfentra is the subcutaneous (SC) formulation of Remsima.

 

On the 20th (local time), it received sales approval as a new drug from the U.S.

 

Food and Drug Administration (FDA).

 

Previously, it was approved as a new formulation biosimilar in Europe, but in the United States, it took the route of new drug approval through a separate phase 3 clinical trial.

 

Celltrion explains that since it has obtained approval as a new drug, it can set a higher sales price than existing biosimilars.

 

Chairman Seo said, “We expect superior profits in the U.S.

 

market compared to Europe, where RemsimaSC was previously approved as a biosimilar.” Chairman Seo said, "When RemsimaSC was sold in Europe, it was confirmed that 40% of patients who had previously used the intravenous formulation switched to the SC formulation within one year." He added, "If we apply this to patients in the United States, many patients will move to the SC formulation." “We expect that Zymfentra alone will be able to achieve global sales of 3 trillion won within 3 years,” he emphasized.

 

He explained that he has also begun drug price negotiations with several insurance companies in the United States.

 

It was expected that the drug price in the US market would be at the level of ‘competitive products’.

 

He pointed out the competing product as Takeda Pharmaceutical's Entyvio.

 

Entyvio is a treatment for autoimmune diseases such as ulcerative colitis and Crohn's disease.

 

In the United States, it was previously approved as an intravenous injection formulation, but recently a subcutaneous injection formulation was also approved.

 

It is said to be similar to Jim Pentra in many ways.

 

Chairman Seo predicted, “Negotiations with insurance companies began in earnest yesterday.

 

Negotiations will be completed within the year,” and added, “The US price of Zympentra is expected to be similar to that of Entyvio, a competing product.” Chairman Seo said, “Next year, we will also conduct a comparative clinical trial with Entyvio,” and added, “Entyvio conducted a comparative clinical trial with Humira, but not with Remsima.

 

The existing animal clinical trials yielded meaningful results.” Chairman Seo said, "In addition to Zympentra, we have four new drug platforms.

 

The related pipelines amount to 20," and added, "We expect that there will be no problem with global new drug sales of 5 trillion won by 2030, centered on Zympentra." He emphasized.