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by IANS |
Seoul, Jan 23 (IANS) South Korean drug major Celltrion's autoimmune disease treatment has been launched in five major European nations, the company said on Thursday.
The treatment – SteQeyma -- is an ustekinumab biosimilar treatment for multiple chronic inflammatory diseases. According to Celltrion, it was released in France on Monday (local time), following its launch in Italy and Spain earlier this month, Yonhap news agency reported.
The launch in France follows its release in Britain last month and in Germany in November. The drug won the European Commission's (EC) approval in August for biologic therapy in gastroenterology, dermatology, and rheumatology indications.
It marked Celltrion's seventh biosimilar to win the EC's approval, following Remsima, Truxima, Herzuma, and others.
Celltrion said it plans to expand sales of SteQeyma in Europe and also introduce the product in the US in the future.
According to data from healthcare researcher Iqvia, the European ustekinumab market was valued at $3.1 billion in 2023, with the global market size reaching $20.4 billion.
Meanwhile, the South Korean drugmaker also aims to achieve annual sales of 5 trillion won ($3.58 billion) in 2025.
The target will be driven by the growth of its biosimilar products and a new treatment for autoimmune diseases, according to its chairman Seo Jung-jin in November last year.
The 2025 sales target is 50 per cent higher than the 3.5 trillion won of annual revenue expected to be recorded in 2024, Jung-jin said. "By 2027, the company will also be able to post an annual revenue of 10 trillion won," he said.
Celltrion also plans to commercialise 22 products, including biosimilars, by 2030.
In December, last year, Celltrion also established a subsidiary in South Korea to specialise in the contract development and manufacturing organisation (CDMO) business.
The new company, named Celltrion BioSolutions, plans to construct its first manufacturing facility in South Korea, with a production capacity of 200,000 litres to manufacture various products, including antibody-drug conjugates, and cell and gene treatments.
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