Seoul: Celltrion Inc., a major South Korean biopharmaceutical company, announced that its biosimilar for treating bone diseases has been added to the preferred drug lists of two U.S. pharmacy benefit managers (PBMs).

According to Yonhap News Agency, Celltrion has signed agreements with two major U.S. PBMs to list its biosimilar Stoboclo-Osenvelt as a preferred drug on their insurance formularies. This move marks Stoboclo-Osenvelt as the first biosimilar to be included on U.S. PBM preferred drug lists for its reference medicine, Prolia-Xgeva.

The global market for Prolia-Xgeva reached 9.2 trillion won (US$6.59 billion) last year, with the U.S. accounting for 67 percent of sales, Celltrion reported. The company is optimistic that these agreements will bolster strong earnings in the fourth quarter and aims for approximately 4 trillion won in annual sales this year, up from 3.56 trillion won in 2024.

Celltrion also has plans to introduce five new biosimilars-Steqeyma, Omlyclo, Avtozma, Eydenzelt, and Stoboclo-Osenvelt-into global markets by year-end. All five have received sales approval in Europe and the United States.

Currently, Celltrion's global biosimilar portfolio includes 11 approved products, with a goal to commercialize 22 biosimilars by 2030. This expansion aligns with the projected growth of the global biosimilar market, expected to reach 261 trillion won by 2030, up from 138 trillion won this year.