Celltrion’s operating profit logs 894. bln won in Q1
SEOUL-- Celltrion Inc., a South Korean bio-pharmaceutical firm, said Thursday that its operating profit jumped by more than two-fold in the first quarter, helped by robust sales of its biosimilar, Remsima, in overseas markets.
Operating income came to 89.4 billion won (US$79.2 million) in the January-March period, compared to a profit of 27 billion won the previous year, the company said in a regulatory filing. Sales also soared 83 percent on-year to 443.8 billion won.
The positive results came after Celltrion Healthcare began distributing Remsima in overseas markets, both in Europe and the United States.
Remsima is an identical copy of Janssen Biotech, Inc.'s Remicade, and is effective in treating various diseases from rheumatoid arthritis to Crohn's disease. In the U.S. market, Remsima went on sale during the fourth quarter of last year under the name Inflectra by Pfizer Inc.
Celltrion said the sales of the drug jumped more than 30 percent from a quarter earlier in the January-March to top US$17 million in the U.S. market.
Source: Yonhap News Agency