Celltrion's global direct sales strategy pays off, strengthening its presence in Japan, Asia, Latin America

Celltrion said Tuesday that it is rapidly expanding its global business growth pillars by securing relatively high market shares in key markets across Asia and Latin America, including Japan. The company’s strategy is to leverage the market dominance of its existing core products to fully launch high-margin follow-on products, positioning the Asia and Latin America regions as new growth drivers following the United States and Europe.

Celltrion recorded revenue of 1.5 trillion won and an operating profit of 510 billion won on a consolidated basis for the third quarter of this year, setting a new all-time quarterly record. The results were driven by expanded sales in key markets such as the United States and Europe, along with growth in high-margin follow-on product lines. This outcome also reflects strengthened additional growth foundations through increased market share of core products and expanded new product launches in Asia and Latin America.

In Japan, Celltrion’s autoimmune disease treatment 'Remsima' (generic name: infliximab) recorded a market share of 48% as of last July. It surpassed the original drug to take first place in the infliximab prescription market.

Japan is a market characterized by a traditional structure centered on pharmaceutical companies and relatively high barriers to entry. Celltrion expanded its market entry through a sales strategy combining local partnerships with direct sales capabilities. Achieving the top market share demonstrated the product’s competitiveness and the success of its local business strategy. Additionally, 'Herzuma' (generic name: trastuzumab) and 'Vegzelma' (generic name: bevacizumab) secured market shares of 78% and 64%, respectively, in Japan, establishing dominance.

The market competitiveness of core products can also be confirmed in other Asian countries. As of the first quarter of this year, Remsima held first place in each market with shares of 93% in Singapore, 84% in Hong Kong, 78% in Thailand, and 72% in Malaysia. 'Truxima' (generic name: rituximab) also took the lead with shares of 93% in Singapore and 78% in Thailand. Herzuma secured market shares of 51% in Malaysia and 42% in Thailand.

Celltrion is also strengthening the market dominance of its key products in Latin America. In Brazil, the largest pharmaceutical market in Latin America, Remsima’s local private market share is approximately 60%. In Costa Rica, Remsima and Truxima recorded market shares approaching 100%, respectively. Celltrion’s product portfolio also secured market shares exceeding 80% in regions such as Ecuador, the Dominican Republic, and Paraguay.

Celltrion plans to expand new product launches and participation in public institutional investor bidding in Latin America. The company aims to broaden product supply opportunities and strengthen growth foundations by market through sales strategies tailored to local market characteristics.

Sales performance in the Asia and Latin America regions aligns with Celltrion’s strategy of expanding its global direct sales infrastructure, which it has pursued over time.

As of the third quarter of this year, Celltrion operates subsidiaries in 43 countries worldwide. In Japan, the company expanded its local workforce to approximately 80 employees. It has also continuously strengthened its personnel and business foundations in Thailand, the Philippines, Vietnam, and other locations. Currently, about 25% of its overseas workforce is employed in key growth markets such as Asia and Latin America.

Celltrion is also actively expanding the launch regions for high-margin follow-on products based on the high market share of its existing core products. In Japan, the company recently launched 'Stekyma' (generic name: ustekinumab) in intravenous (IV) formulation, expanding its autoimmune disease treatment portfolio. It plans to launch Remsima SC next year.

Celltrion expects that as numerous follow-on products increase supply in key markets such as the United States and Europe while expanding their sales regions to Asia and Latin America, the contribution of new product lines to total global revenue will gradually increase.

A Celltrion official said, "In addition to Remsima surpassing the original drug to take first place in market share in Japan, we have secured high market shares in key countries across Asia and Latin America." The official added, "This signifies that Celltrion’s product competitiveness and global sales strategy are translating into tangible results."

The official further noted, "The local sales infrastructure already established and the high market share of existing products serve as an important foundation for expanding the market for high-margin follow-on products."

He continued, "Following the United States and Europe, we will accelerate new product launches in Asia and Latin America to diversify our global growth pillars, simultaneously realizing sustained revenue growth and expanded profitability."