Celltrion Secures Approval for Biosimilar Allergic Asthma Treatment in Canada

Seoul, Dec 9 (NationPress) Celltrion, a leading pharmaceutical company from South Korea, declared on Monday that it has received the green light from Canadian health authorities for a biosimilar therapy aimed at treating allergic asthma.

The firm stated that its biosimilar, Omlyclo, which is a variant of Xolair, has been sanctioned by Health Canada. Furthermore, research has indicated that it performs equivalently and possesses similar safety profiles when compared to the original drug, as reported by Yonhap.

As of 2023, the worldwide market for Xolair reached a substantial $3.63 billion, with Canada contributing $138 million, according to information from Celltrion.

The company remarked, "Given that Canada is recognized as a nation with favorable biosimilar regulations, we intend to continue providing top-notch pharmaceutical products to strengthen our foothold in this market," according to a statement from Celltrion.

Earlier this month, Celltrion commenced commercial operations at its third manufacturing facility in the nation.

Located in Incheon, just west of Seoul, the plant has started producing drug substances for Celltrion, per the company’s announcement.

With this addition, Celltrion now boasts a cumulative annual drug production capability of 250,000 liters, which includes 60,000 liters from the new facility, as reported.

This latest plant is tasked with manufacturing a variety of products to promptly cater to the evolving demands of the global biopharmaceutical landscape, Celltrion stated.

In November, Seo Jung-jin, Chairman of Celltrion, indicated that the South Korean pharmaceutical firm aims to reach annual sales of 5 trillion won (approximately $3.58 billion) in the upcoming year, fueled by the expansion of its biosimilar offerings and a new treatment for autoimmune conditions.

This target for 2025 marks a 50 percent increase compared to the estimated annual revenue of 3.5 trillion won for the current year, as explained by Jung-jin during an investor relations meeting in Hong Kong.

"By 2027, the company aims to achieve an annual revenue of 10 trillion won," he stated.