Sydney: Celltrion Inc., a leading South Korean biopharmaceutical company, announced plans to enhance its biosimilar lineup in Australia to cater to the increasing demand in the Oceania market. The company recently introduced two biosimilars in the Australian market: Omlyclo, which treats allergic diseases, and Steqeyma, which addresses autoimmune diseases.

According to Yonhap News Agency, Celltrion plans to launch two additional biosimilars in Australia next year. These include Avtozma for the treatment of autoimmune diseases and Stoboclo-Osenvelt for osteoporosis treatment. A company spokesperson highlighted the expanding Australian biosimilar market, noting local authorities' support measures, such as a simplified approval process, to encourage the adoption of biosimilars.

Previously, six Celltrion biosimilars were available in Australia: Remsima (sold locally as Inflectra), Remsima SC, Yuflyma, Herzuma, Truxima, and Vegzelma. During the first half of the year, Celltrion reported a net profit of 171.6 billion won (US$123 million) on sales of 961.5 billion won. The company aims to reach 5 trillion won in annual sales this year, a 40 percent increase from last year's record of 3.56 trillion won.

Celltrion has significantly expanded its global biosimilar portfolio, with approved products increasing from six to 11. The company plans to commercialize 22 biosimilars by 2030, aligning with projections that the global market value will grow to 261 trillion won from the current 138 trillion won.