Celltrion Healthcare said that it has joined Australia's Generic and Biosimilar Medicines Association (GBMA), the country's largest biopharmaceutical industrial society.
|Celltrion Healthcare headquarters in Incheon|
GBMA is a group of companies involved in the manufacture, supply, and export of pharmaceuticals in Australia and exerts a powerful influence on the country’s pharmaceutical industry. Medicines manufactured by GBMA companies account for more than 90 percent of the Australian pharmaceutical market.
GBMA also plays a crucial role in leading biosimilar prescription expansion, such as providing education and publicity activities for biosimilars with the funds provided by the Australian government.
The Australian market for Celltrion's three major products – Inflectra, Truxima and Herzuma -- is estimated to be about 330 billion won ($280 million). The company’s Infectra has attained a double-digit market share since its launch in 2015.
Truxima and Herzuma have also received approval from the nation's regulatory agency in March and July last year, respectively. The company is preparing to launch the products directly through an Australian subsidiary.
"Celltrion Healthcare is the first biosimilar-specialized company to join GBMA," GBMA President Marnie Peterson said. "With the addition of Celltrion, we expect that Australian patients will benefit from biosimilar drugs more broadly."
Celltrion Healthcare's Vice Chairman and CEO Kim Hyoung-ki also said, "We will work with GBMA to expand biosimilar prescriptions and help mitigate the financial burden on the Australian healthcare system."