Celltrion Reports Q2 Operating Profit Surge 86% Amid Biosimilar Growth

According to Korean Economic Daily on July 28, Celltrion reported second-quarter operating profit of 451.8 billion won, up 86.3% year-over-year, with revenue reaching 1.39 trillion won, up 45% from the same period last year. The company's operating profit exceeded analyst consensus of 400.7 billion won by 12.75%.

New biosimilar products drove the growth, with revenue from the new product line reaching 824.9 billion won, up 76% year-over-year and accounting for 65% of total biosimilar sales. Omniclo, Celltrion's biosimilar for Xolair, achieved a 21% market share in Europe within three quarters of launch, generating 116.7 billion won in revenue during the quarter.