Celltrion Healthcare said that it won the bids for Singapore’s infliximab biosimilar market and Thailand's rituximab biosimilar market late last year. With the winning bid, the company will supply Remsima (Ingredient: infliximab) to Singapore and Truxima (Ingredient: rituximab) to Thailand.
Regarding the Singapore deal, the company has won 80 percent of the nation’s infliximab and will supply its biosimilar next year.
Celltrion Healthcare has been in constant contact with government agencies in Singapore and received insurance benefits for Remsima in March of last year.
The company expects that the market share for Remsima will rapidly increase as the Singapore government is expanding biosimilar-related policies by directly developing and distributing biosimilar data, and encouraging prescription to medical staff and patients.
Remsima has already achieved 50 percent market share last year, which is a drastic increase from the 5 and 10 percent market share in 2016 and 2017, respectively. Celltrion Healthcare plans to continue its aggressive marketing activities this year with the aim of expanding its sales of Remsima in Singapore.
In the Thailand market, the second largest in the Southeast Asian region with a market size of about $5 billion, the company has won 70 percent of the nation’s rituximab and will supply its biosimilar next year.
The pharmaceutical biotechnology industry in Thailand is also rapidly expanding thanks to favorable government policies to increase the prescription of biopharmaceuticals.
“The successful bid is meaningful as it is the first agreement since Celltrion Healthcare established its direct sales system in Asia,” the company said.
The results of the auctions will have a positive impact on neighboring countries, and Celltrion Healthcare will further strengthen customized direct sales activities in Asia through its local subsidiaries, it added.
“Based on our differentiated marketing know-how and experience in distribution, we introduced a pharmaceutical direct sales system in Asia and achieved significant results in the bid in Thailand and Singapore government,” a company official said.
With the direct sales experience and competitiveness of Celltrion Healthcare, which has been proven in the global market, the company will make a full effort to establish a direct sales system in EU for Remsima SC, the official added.