[Click e-Stock] "Celltrion's Omliclo Potential in Focus... Target Price Raised"

"Growth Potential of Omliclo Confirmed at ERS 2026"
Sangsangin Securities Raises Target Price to 310,000 Won

Sangsangin Securities on September 15 raised its target price for Celltrion from 290,000 won to 310,000 won and maintained its "Buy" investment opinion.

Dalmii Lee, a research analyst at Sangsangin Securities, stated, "Through attending ERS 2026, we have confirmed the growth potential of Omliclo." She added, "We have revised upward our Omliclo estimate by 10% compared to previous figures. By changing the EBITDA year used for our target price calculation, we have raised the target price and continue to recommend Celltrion as our top pick in the pharmaceutical and biotech sector."

Omliclo (omalizumab), a biosimilar of Xolair, was approved in the EU in May 2024 and has seen rapid growth since the following year. According to Lee, "Among Celltrion's new products, Omliclo is showing the most remarkable growth. The product has a competitive edge due to limited biosimilar competition, a long shelf life, and early market entry ahead of new competitors, which makes it likely to become one of the most important growth drivers in Europe going forward."

The company forecasts Celltrion’s full-year sales for this year at 5.5684 trillion won, up 33.8% from the previous year, and operating profit at 1.9721 trillion won, a 68.8% increase. Lee commented, "Most of the company’s growth is expected to be driven by the new product segment, with Omliclo’s growth in particular being highly anticipated." She added, "Omliclo is currently being sold in 26 European countries, and its market share in Spain as of July this year is estimated to exceed 90%."

She continued, "Omliclo is projected to achieve sales of 447.3 billion won in 2026 and 894.7 billion won in 2027. As it becomes the new Remsima, it is expected to drive Celltrion’s overall growth trajectory."

Additionally, she emphasized that this year, global big pharma companies are paying close attention to the 'respiratory' sector. Lee explained, "The center of competition is likely to shift from simple efficacy to factors such as patient selection by phenotype, administration frequency and convenience, and payer accessibility driven by lower prices. These changes are expected to create a favorable environment for the long-term expansion of the omalizumab biosimilar market, and Omliclo’s ability to deliver equivalent clinical utility at a lower cost with higher accessibility is a key competitive factor."

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