South Korean biopharmaceutical firm Celltrion plans to establish a wholly-owned contract development and manufacturing organization subsidiary this year, aiming to leverage its antibody expertise. The move comes as the company’s new autoimmune treatment, Zympentra, rapidly expands its U.S. market presence.
Celltrion reports that Zympentra has secured coverage with major pharmacy benefit managers controlling 80% of the U.S. market. Despite a 2-3 month delay in actual prescriptions due to insurer listings, shipments to wholesalers are outpacing prescription volume growth.
The company projects Zympentra sales of 250 billion won ($186 million) this year, targeting 1 trillion won ($745 million) in 2025. Chairman Seo Jung-jin envisions annual sales reaching 3 trillion won within three years, potentially climbing to 5 trillion won.
Following its merger with Celltrion Healthcare, the company’s cost of goods sold ratio is declining as high-cost inventories are depleted. Celltrion aims for total sales of 5 trillion won next year, buoyed by its expanding product portfolio and operational efficiencies.
The planned CDMO subsidiary, set to commence full-scale operations in 2025, is expected to enhance Celltrion’s competitiveness in the biopharmaceutical industry.
