Celltrion's Treatment for Autoimmune Diseases Launched in Five Key European Markets
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Synopsis
Celltrion, a leading South Korean pharmaceutical company, has launched its autoimmune disease treatment, SteQeyma, in five major European countries. This biosimilar for ustekinumab aims to target chronic inflammatory diseases and is part of the company's strategy to expand its presence in the market.
Key Takeaways
- Celltrion's SteQeyma launched in five European nations.
- Approved by the European Commission for multiple indications.
- Plans for expansion in the US market in the future.
- Targeting annual sales of 5 trillion won by 2025.
- Plans to commercialize 22 products by 2030.
Seoul, Jan 23 (NationPress) The renowned South Korean pharmaceutical firm Celltrion has officially introduced its autoimmune disease treatment across five prominent European countries, as reported by the company on Thursday.
The newly launched medication, SteQeyma, serves as a biosimilar treatment for ustekinumab, targeting multiple chronic inflammatory conditions. Celltrion confirmed that the drug was made available in France this Monday (local time), following its earlier launch in Italy and Spain at the beginning of the month, according to the Yonhap news agency.
Following its debut in France, the treatment had previously been released in Britain last month and in Germany in November. The European Commission granted its approval in August for its use in biologic therapies related to gastroenterology, dermatology, and rheumatology.
This successful launch represents Celltrion's seventh biosimilar to receive the EC endorsement, joining the ranks of Remsima, Truxima, Herzuma, among others.
Celltrion has ambitious plans to amplify SteQeyma's sales across Europe and aims to introduce the product in the US in the foreseeable future.
According to healthcare analytics firm Iqvia, the European market for ustekinumab was valued at $3.1 billion in 2023, while the global market size reached $20.4 billion.
Additionally, the South Korean pharmaceutical giant is targeting annual sales of 5 trillion won (approximately $3.58 billion) by 2025.
This ambitious target is projected to be propelled by the expansion of its biosimilar offerings and the introduction of a new treatment for autoimmune disorders, as articulated by Chairman Seo Jung-jin in November of the previous year.
The 2025 sales goal reflects a 50% increase compared to the 3.5 trillion won revenue anticipated for 2024, according to Jung-jin. He also mentioned that by 2027, the company expects to generate an annual revenue of 10 trillion won.
Celltrion's long-term strategy includes the commercialization of 22 products, including biosimilars, by 2030.
In December of last year, Celltrion established a subsidiary in South Korea focused on the contract development and manufacturing organization (CDMO) sector.
This new entity, named Celltrion BioSolutions, aims to build its inaugural manufacturing facility in South Korea, boasting a production capacity of 200,000 litres to produce diverse products, such as antibody-drug conjugates and cell and gene therapies.
