Celltrion: "Additional Listing with Major U.S. PBM Imminent; Expects Q4 Earnings Growth"

Following Aptozma and Omlyclo listings, Celltrion seeks expanded reimbursement coverage for follow-on products
Truxima reaches 39% U.S. market share
Yuflyma's share more than doubles from the start of the year

Celltrion is stepping up its efforts to expand in the U.S. market by pursuing formulary listing agreements with major U.S. pharmacy benefit managers (PBMs) for its high-margin follow-on products.

Celltrion said on Oct. 14 that negotiations to secure formulary listings for its follow-on products with major PBMs were nearing completion and that it aimed to sign additional agreements within the fourth quarter. The company plans to sustain earnings growth in the fourth quarter, supported by strong sales of existing products and expanded insurance reimbursement coverage for new products.

Celltrion corporate logo image. Celltrion

PBMs manage matters related to prescription drugs and insurance coverage. Having a drug listed as a preferred medicine on a PBM formulary can secure insurance reimbursement coverage, helping improve patient access and create favorable conditions for expanded prescriptions.

Celltrion previously secured preferred drug status for Aptozma (generic name: tocilizumab), a treatment for autoimmune diseases, on the private insurance formularies of the three largest U.S. PBMs. Omlyclo (generic name: omalizumab), a treatment for allergic diseases launched in the United States earlier this month, was also listed as a preferred drug on the private insurance formulary of Optum, a major PBM.

Market share gains for existing products are also supporting growth. According to IQVIA, a pharmaceutical market research firm, Truxima (generic name: rituximab), a treatment for blood cancers, recorded an approximately 39% share of the U.S. market in August this year. Inflectra (generic name: infliximab), a treatment for autoimmune diseases, also ranked first in biosimilar prescriptions, with a 31% share over the same period.

The follow-on products Steqeyma (generic name: ustekinumab) and Yuflyma (generic name: adalimumab) recorded market shares of 15% and 11%, respectively. Yuflyma's market share rose to 11% in August from approximately 5% in January this year.

Celltrion plans to expand market access for its follow-on products by leveraging its U.S. direct-sales system and the network of medical institutions and distributors it built while selling existing products. Its strategy is to improve sales efficiency and profitability by combining the sales base of existing products with increased prescriptions for new products and additional PBM listings.

A Celltrion official said, "With negotiations to secure additional listings with major PBMs nearing completion, we are continuing discussions with the goal of signing agreements within the fourth quarter. We will do our utmost to exceed the profit target we set, supported by solid sales of existing products and expanded prescriptions for high-margin follow-on products."

This content was produced with the assistance of AI translation services.