Celltrion posts record quarterly sales of W1.5tr, operating profit tops 500 billion for first time

Celltrion set a new quarterly sales record in the third quarter of this year and, for the first time in the company's history, surpassed 500 billion won ($373 million) in quarterly operating profit. The milestone reflected both top-line growth and a structural shift toward higher-margin products, with ongoing cost improvements amplifying the earnings impact.

The company disclosed preliminary consolidated results for the third quarter of 2026 on Monday, reporting sales of 1.5 trillion won and operating profit of 510 billion won. Sales rose 45.8 percent and operating profit jumped 69.2 percent compared with the same period last year. The operating profit margin came in at 34 percent, up 4.7 percentage points year-on-year.

The results mark the third consecutive quarter in which Celltrion has exceeded the profit targets it set out in its annual business plan disclosed at the start of the year. The company had originally guided for operating profit of 300 billion won in the first quarter, 400 billion won in the second and more than 500 billion won in the third, surpassing each of those targets in turn and reinforcing market confidence.

The key drivers behind the earnings expansion were a growing share of high-margin next-generation products in major global markets and sustained improvements to the company's cost structure. As savings from manufacturing process efficiencies accumulated, newly launched biosimilars with strong margins penetrated markets rapidly through direct sales networks, creating a virtuous cycle in which revenue growth translated directly into operating leverage.

Across regions, Europe and the United States — the two core markets — saw growth from both established and newer products. In Europe, the subcutaneous autoimmune treatment Remsima SC (infliximab) and the allergy treatment Omliclor (omalizumab) led the performance.

Omliclor, launched across 26 European countries, captured more than 90 percent market share in Spain — one of the five major EU markets — based on local market data as of July, cementing a dominant position. In Denmark, the company expects to reach a market share of 98 percent or more by year-end on the back of a national tender win.

In the United States, the expansion of the company's direct sales infrastructure drove market share gains across key products. Steqeyma (ustekinumab) and Yuflyma (adalimumab), both autoimmune treatments, recorded market shares of 15 percent and 11 percent, respectively, as of August, establishing a solid foothold. Established products Truxima (rituximab), a blood cancer treatment, and Inflectra (infliximab, the US brand name for Remsima) held firm at 39 percent and 31 percent, respectively, maintaining their positions at the front of the market.

Celltrion plans to build further earnings momentum in the fourth quarter by capitalizing on the seasonal upturn in the second half and the entry of new products into reimbursement schemes. European pharmaceutical markets typically see government tenders and hospital supply schedules concentrated in the second half of the year, compounded by year-end demand for drug inventory replenishment.

Adding to that tailwind, Omliclor — launched early in the US market as a first mover earlier this month — has been listed as a preferred drug on the formulary of Optum, one of the three largest pharmacy benefit managers in the country. Full reimbursement coverage is set to take effect from the fourth quarter, which is expected to meaningfully expand the product's sales contribution.

"Quarterly operating profit has exceeded 500 billion won for the first time in our history, and we have beaten our quarterly targets for three consecutive quarters, demonstrating our qualitative growth strategy in numbers," a Celltrion official said. "We will maintain the expansion of high-margin next-generation products and cost improvements, and will fulfill our fourth-quarter and full-year business plan targets without fail, underpinned by the US launch of Omliclor and the expansion of European supply."