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Celltrion 1st Korean biopharmaceutical firm to achieve $1-billion exports

Lee Han-soo  Published 2019.12.05  15:04  Updated 2019.12.05 15:04

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Celltrion Healthcare said that it has become the first local biopharmaceutical company to receive the "Billion Dollar Export Tower," an award given to companies that have surpassed $1 billion in foreign shipment. The company got the award during the 56th trade day ceremony held at the COEX in southern Seoul on Thursday.

Celltrion stressed it could receive the prize as the prescription amount for drugs it sells, such as Remsima, Truxima, and Herzuma, continued to expand their shares in the global market.

The company was able to win the $1 billion export award in just four years after it received its "300 Million Export Tower" in 2015.

"The award is particularly meaningful in that it shows Celltrion Healthcare became the first local biopharmaceutical company to achieve annual export value exceeding $1 billion," the company said. "Thanks to the growth of the local biopharmaceutical industry, there recently have emerged various companies that have exceeded 1 trillion won ($840.6 million) in annual sales."

However, even with the robust growth, Celltrion Healthcare has become the first local company to surpass $1 billion in exports by expanding prescriptions overseas and has solidified its position as a company that leads export growth in Korea's biopharmaceutical industry, the company added.

Celltrion stressed that last year's local drug export report could confirm such results further. According to the Ministry of Food and Drug Safety's "2018 local drug production import and export status" released in July, the total drug exports amounted to $4.67 billion last year. Of the total amount, Celltrion Healthcare was responsible for 20 percent of the annual drug exports.

"The three biosimilar products of our company have achieved great results in the global market, opening the era of $1 billion in exports of biopharmaceuticals," Celltrion Healthcare CEO Kim Hyeong-ki said.

As the company is preparing to market Remsima SC, approved for sale by the European Medicines Agency (EMA) last month, directly in Europe while planning to market four of its products in the U.S. next year, the company will focus on expanding exports with the goal of winning the "$2 Billion Export Tower" in the next few years, Kim added.

During the event, Kim also received the "Minister of Trade, Industry and Energy Award" for his contribution to leading the local biopharmaceutical export and spreading the value of the Korean biopharmaceutical industry.

corea022@docdocdoc.co.kr

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