Celltrion's Q3 Operating Profit Hits KRW 525.3B, KRW 15.3B Above Preliminary Results

Operating profit up 74.3%; operating margin at 33.3%
New product sales reach KRW 905.8 billion... account for 67% of biologics revenue

Celltrion posted record-high quarterly revenue and operating profit based on final third-quarter results that exceeded its preliminary figures.

Celltrion said on October 27 that it recorded consolidated revenue of KRW 1.5755 trillion and operating profit of KRW 525.3 billion in the third quarter. Revenue rose 53.1% and operating profit increased 74.3% from the same period a year earlier, while the operating margin climbed 4.0 percentage points to 33.3%.

Celltrion corporate logo image. Celltrion

The final results exceeded the preliminary figures announced on October 12—revenue of KRW 1.5 trillion and operating profit of KRW 510 billion—by KRW 75.5 billion and KRW 15.3 billion, respectively. The company said the increases reflected stronger-than-expected contributions from expanded sales of high-margin new products and an improved product mix. Celltrion had reported an operating margin of 34% when it announced its preliminary results. The company also emphasized that it achieved these results while reflecting research and development expenses for new drugs and next-generation products in its earnings.

Revenue from new products totaled KRW 905.8 billion in the third quarter, up about 74% from the same period a year earlier. New products accounted for 67% of revenue from biologics, up 13 percentage points from a year earlier and 2 percentage points from the previous quarter.

Combined third-quarter sales of its flagship product Remsima SC and Zymfentra in the United States totaled KRW 254.2 billion, up 19% from the same period a year earlier. Cumulative sales for the first three quarters totaled KRW 710.4 billion. Third-quarter sales of Yuflyma rose 27% to KRW 183.2 billion. Omlyclo's cumulative sales for the first three quarters of this year totaled KRW 320.5 billion, up 542.3% from KRW 49.9 billion in the same period a year earlier.

Celltrion plans to expand the markets where it sells its biosimilars while continuing to develop new drugs, including antibody-drug conjugates (ADCs). Its strategy is to secure new growth drivers by increasing research and development investment, funded by cash generated from its existing business.

A Celltrion official said, "These results reflect both the operation of our global direct-sales organization and investment in research and development for new drugs and next-generation products. It is particularly meaningful that we achieved record-high revenue and operating profit while continuing to invest in future growth drivers."

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