Celltrion Pharm has set a new record for its highest-ever revenue, driven by the growth of key products such as Remsima SC (subcutaneous injection) for autoimmune diseases.
On the 17th, the company announced that its annual revenue for 2023 reached approximately KRW 477.8 billion, with an operating profit of KRW 37.2 billion. This marks a 22.9% year-on-year increase in revenue, setting a new company record, while operating profit grew by 3% over the same period. In the fourth quarter of 2023 alone, revenue stood at KRW 135.6 billion, with an operating profit of KRW 10.5 billion, reflecting 42% and 102% growth, respectively, compared to the previous year.
The company attributed its growth to the strong performance of key products and the increasing revenue contribution from newly launched products. Despite a rise in personnel costs and R&D expenses, operating profit also showed improvement.
In the chemical drug business, revenue increased 23% year-on-year, reaching approximately KRW 204.8 billion. Leading this growth was Godex, a liver therapy drug, which posted KRW 66.8 billion in sales, maintaining solid performance. Additionally, Dilatrend, a hypertension treatment drug that began full-scale sales last year, recorded KRW 50.2 billion, further driving the company’s growth.
The biosimilar business also saw 18.2% growth, achieving KRW 86.6 billion in revenue. Notably, Remsima SC, a subcutaneous version of the intravenous (IV) autoimmune treatment Remsima, grew by 34.3% year-on-year, with total sales of KRW 44 billion for the Remsima product line. Meanwhile, Yuflyma, another autoimmune disease treatment, recorded KRW 3.6 billion, reflecting 77% growth compared to the previous year.
In the oncology segment, Herzuma recorded KRW 21.3 billion, reflecting 42% growth, while Vegzelma achieved KRW 3.8 billion, successfully gaining traction in the market.
In the contract manufacturing (CMO) business, revenue from pre-filled syringe (PFS) production skyrocketed by 265% year-on-year, reaching KRW 92.6 billion. The company attributed this to the expansion of SC-formulation product manufacturing for key global markets.
Going forward, Celltrion Pharm plans to further expand sales by strengthening the market presence of its existing products while accelerating the commercialization of new products. The company also aims to maximize production capacity utilization and secure a competitive edge through aggressive R&D investment.
A company representative stated, “Last year, we focused on solidifying the foundation of our core products while accelerating market expansion for new products.” They added, “This year, we will push forward with the launch of new biosimilar products and drive innovation in R&D to achieve a quantum leap in growth.”
