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Seoul, South Korea – Celltrion, a leading South Korean biopharmaceutical company, announced the successful launch of its autoimmune disease treatment, SteQeyma, in five major European countries.
Following its recent approvals in Germany and the UK, SteQeyma, a biosimilar to ustekinumab, has now been made available in France, Italy, and Spain. This marks a significant milestone for Celltrion’s European expansion and underscores the growing demand for effective and accessible treatments for chronic inflammatory diseases.
SteQeyma received European Commission approval in August for various indications across gastroenterology, dermatology, and rheumatology. This approval adds to Celltrion’s impressive portfolio, marking its seventh biosimilar to gain EC approval.
With a robust European market valued at $3.1 billion in 2023, Celltrion aims to capitalize on the growing demand for ustekinumab treatments. The company also has plans to introduce SteQeyma to the US market in the future.
Ambitious Growth Targets
Celltrion has set ambitious growth targets, aiming to achieve annual sales of 5 trillion won ($3.58 billion) by 2025. This ambitious goal will be driven by the continued expansion of its biosimilar portfolio and the introduction of new treatments for autoimmune diseases.
Chairman Seo Jung-jin has expressed confidence in achieving these targets, stating that the company is on track to reach 10 trillion won in annual revenue by 2027.
Expanding Global Reach
In line with its global expansion strategy, Celltrion recently established Celltrion BioSolutions, a new subsidiary dedicated to the contract development and manufacturing organization (CDMO) business. This strategic move will enable the company to expand its manufacturing capabilities and support the development of innovative therapies, including antibody-drug conjugates and cell and gene treatments.
Celltrion’s continued success in developing and commercializing innovative biosimilars positions the company as a key player in the global biopharmaceutical market. With a strong focus on research and development, strategic partnerships, and a commitment to patient care, Celltrion is well-positioned for continued growth and success in the years to come.
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