Seoul: Celltrion Inc., a leading South Korean biopharmaceutical company, announced a significant rise in its second-quarter net profit, nearly sixfold from the previous year, primarily fueled by the robust sales of its growing biosimilar portfolio.

According to Yonhap News Agency, Celltrion reported a net profit of 371.3 billion won (US$254.8 million) for the quarter ending in June, a substantial increase from the 63.3 billion won recorded in the same period last year. The company credits this remarkable performance to the heightened sales of newer biosimilars such as Remsima SC, Steqeyma, Yuflyma, and Vegzelma.

The company also noted that an improved product mix, alongside enhanced cost efficiency in production processes, contributed to the surge in profitability. Operating profit witnessed an 86.3 percent rise, reaching 451.8 billion won in the second quarter, up from 242.5 billion won a year earlier. Concurrently, sales increased by 45 percent, amounting to 1.39 trillion won compared to 961.5 billion won during the same period in the previous year.

In the first half of the year, Celltrion's net profit more than quadrupled to 721.2 billion won from 171.6 billion won a year ago. Operating profit saw a 97 percent surge to 773.7 billion won from 391.9 billion won in the previous year, while sales rose 40.7 percent to 2.54 trillion won from 1.8 trillion won.

Looking ahead to 2026, Celltrion aims for an operating profit of 1.8 trillion won on sales totaling 5.3 trillion won. This growth is expected to be supported by the continued expansion of biosimilar sales in critical markets, including the United States and Europe. The company plans to elevate the share of newer biosimilars in total sales to 70 percent this year, up from 54 percent last year.

Celltrion has been aggressively expanding its global biosimilar portfolio, increasing its approved products from six to 11. The company aims to commercialize 18 biosimilars by 2030 and 41 by 2038. Additionally, its sole original drug, Zymfentra, is marketed in the United States for autoimmune diseases and is sold as Remsima SC in Europe and other international markets.