Celltrion Sees Sales Dip In Q3
As Company Sees Pro-Biosimilar Policies Offering A Boost In US
South Korea’s Celltrion delivered a relatively weak quarter in Q3, with a 26.9% drop in revenues despite robust sales of Truxima (rituximab) and Remsima (infliximab). The company also voiced confidence in pro-biosimilar policies introduced by the Biden administration in the US.
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Celltrion has indicated that it intends to leverage its ability to compete on cost to gain a foothold in the bevacizumab market, despite being a “latecomer” in the wake of firms that have previously launched and filed biosimilar rivals to Avastin.
Celltrion continues to eye further markets for its CT-P59 regdanvimab monoclonal antibody treatment for COVID-19, especially in the EU, after winning final approval from the Korean Ministry of Food and Drug Safety.
As the COVID-19 pandemic continued in 2021, the off-patent industry stepped in to provide relief in a variety of ways, whether through securing supplies of essential medicines or helping to manufacture and distribute newly-developed treatments.