Seoul: Celltrion Inc., a major South Korean biopharmaceutical firm, on Monday estimated its second-quarter operating profit more than tripled from a year earlier on robust sales of high-margin biosimilar products. Operating profit in the three months ended June likely surged to 242.5 billion won (US$174.6 million) from 72.9 billion won a year earlier, the company said in a press release.

According to Yonhap News Agency, increased global sales of the company's flagship biosimilars, including Remsima SC, Yuflyma, and Vegzelma, buoyed the quarterly earnings results, it said. Those high-margin products accounted for 53 percent of its overall sales in the June quarter. Sales rose 9.9 percent to 961.5 billion won from 874.7 billion won during the cited period.

The company expects to continue reporting strong earnings in the second half as it plans to gradually launch five new biosimilar products-Omlyclo, Avtozma, Eydenzelt, Stoboclo, and Osenvelt-in global markets later this year. Celltrion aims to achieve 5 trillion won in sales this year, up 40 percent from its record sales of 3.56 trillion won last year.

Celltrion has significantly expanded its global biosimilar lineup, increasing the number of approved products from six to 11. It aims to commercialize 22 biosimilar products by 2030, when the global market size is projected to jump to 261 trillion won from 138 trillion won this year. Celltrion's final earnings results are set to be released later.