Celltrion posts record Q2 earnings with 1.3 trillion won in sales, 430 billion won in operating profit

Celltrion posted record second-quarter earnings, with sales of 1.3 trillion won ($836 million) and operating profit of 430 billion won — the highest figures the company has recorded for any second quarter.

The biopharmaceutical company disclosed the preliminary consolidated results Friday. Sales rose 35.2 percent and operating profit surged 77.3 percent compared with the same period last year. The operating margin jumped from 25 percent in last year's second quarter to 33 percent, reflecting simultaneous top-line growth and improved profitability. The results also exceeded the company's own second-quarter operating profit target of 400 billion won, which it had disclosed earlier this year.

The strong performance was driven by rapid global growth of high-margin new products, including Remsima SC (sold in the United States as Zymfentra), Yuflyma and Steqeyma. New products now account for more than 60 percent of total sales. In the United States, Zymfentra continues to set new prescription records, while Steqeyma has entered the leading group in its category. In Europe, first-mover Omvoh has secured an early market position and Vegzelma holds the No. 1 market share in key countries. Aptozmab and Stoboclo-Osenveldt have also entered a phase of full-scale sales expansion.

The profitability structure has also improved. With most one-time costs from the post-merger period now resolved, cost competitiveness rose as the company worked through high-cost inventory, completed amortization of development expenses and improved production yields through titer improvement. Celltrion said the profit growth reflects structural changes rooted in a better product mix and higher production efficiency, not a temporary effect.

The company's biosimilar and drug pipeline is also on track. CT-P55, a biosimilar of the autoimmune treatment Cosentyx, is advancing through regulatory approval processes in South Korea and North America, while Herzuma SC is pursuing global approval. Celltrion plans to build a portfolio of 30 biosimilars by 2030 and 41 by 2038. In new drugs, the company is targeting a portfolio of 20 candidates by next year, led by CT-P70 and CT-P71, both of which have received fast track designation from the US Food and Drug Administration.

Celltrion is also moving quickly to expand production capacity. On top of its existing domestic facilities totaling 250,000 liters, the company is scaling up its No. 4 and No. 5 factories by 180,000 liters. It has also decided to expand its Branchburg, New Jersey plant by 75,000 liters, which would bring its total US production capacity to 141,000 liters. The expansion is designed to strengthen global supply stability and lay the groundwork for growing its contract manufacturing business.

"These results show that our strategy of expanding new products and improving profitability has begun to deliver in earnest," a Celltrion official said. "Given the seasonal nature of the biosimilar industry, in which sales tend to accelerate in the second half of the year, we expect our growth momentum to pick up further, and we will continue to strengthen our competitiveness as we aim to become a global big pharma."