Celltrion's high-margin follow-on products gain ground across Europe, poised to drive second-half growth

Celltrion's high-margin follow-on product lineup is steadily expanding its footprint across Europe, with the company expecting the momentum to translate into strong year-end earnings as pharmaceutical supply volumes in the region typically concentrate in the second half.

According to market research firm IQVIA, Omliclor — a biosimilar treatment for chronic spontaneous urticaria containing the active ingredient omalizumab — captured roughly 16% of its European market in the first quarter. The product launched in Europe in September last year as a first-mover biosimilar.

Spain, one of the five major EU markets known as EU5, has been a standout: Omliclor commands about 71% market share there, making it the dominant omalizumab product in the country just six months after launch. Prescriptions have also surged in Portugal (47%), Ireland (41%) and Norway (31%). Analysts attribute the gains to both the first-mover advantage and tailored direct-sales strategies deployed by Celltrion's local European subsidiaries on a country-by-country basis.

Vegzelma, Celltrion's biosimilar bevacizumab for metastatic colorectal and breast cancer, has also cemented its leading position in Europe. The product held roughly 28% market share in the first quarter, maintaining its top spot in the European bevacizumab market for 21 consecutive months despite competing against more than 10 rival biosimilars. The sustained No. 1 ranking is seen as a testament to Celltrion's direct-sales capabilities. Vegzelma has also recently been added to the formularies of major pharmacy benefit managers in the United States, further reinforcing its role as a global sales driver.

Follow-on products in the autoimmune disease segment are also advancing. Yuflyma, a biosimilar adalimumab, held roughly 22% of the European adalimumab market in the first quarter, topping prescription rankings for 12 consecutive months. The product performed particularly well in large EU5 markets, including the United Kingdom (49%) and Italy (46%). Steqeyma, a high-margin biosimilar ustekinumab, recorded about 9% market share, with prescriptions consistently expanding in Portugal (41%), Sweden (28%) and Italy (20%). Celltrion expects Steqeyma's share gains to accelerate as bundled sales with existing autoimmune products generate growing synergies.

To maximize earnings from its high-margin portfolio, Celltrion plans to expand its local sales force in Europe and strengthen its overall commercial capabilities. The company also intends to step up marketing targeting key opinion leaders at major international medical conferences, including the European Respiratory Society congress and the United European Gastroenterology Week.

The company expects its follow-on product earnings to climb sharply through year-end, driven by second-half tailwinds — including initial shipments tied to tender awards concentrated in the second and third quarters across major European markets, as well as increased year-end pharmaceutical inventory purchases by buyers looking to build up stock ahead of the new year.

"High-margin follow-on products including Omliclor are delivering stronger prescription results across Europe, significantly enhancing our portfolio competitiveness," a Celltrion official said. "With major tenders continuing to be held in key markets, we will make every effort to achieve both sales expansion and earnings growth in the second half."