Celltrion (068270) Investor presentation summary

2024 performance and outlook

• FY2024 consolidated revenue was KRW 3.557T, up 63.4% YoY; operating profit was KRW 492bn, with a 13.8% margin. EU revenue exceeded KRW 1.5T and US revenue exceeded KRW 1T.

• Global biologics sales reached KRW 3,108.5bn in 2024, versus KRW 1,971.2bn in 2023; young portfolio share increased from 26% to 38%.

• 2025 revenue target is KRW 5T, following KRW 3.5T in 2024; growth drivers include new launches, COGS improvement and cost efficiency.

• COGS ratio was 45% in 4Q24 excluding one-time factors, versus 63% in 4Q23; 4Q25 is projected in the 20% range. FY2025 operating profit is projected to increase 2–3x or more.

Global commercial performance

• Remsima SC reached 25% market share in EU5; combined Remsima IV and SC share approached 80% in the UK, France and Spain, and exceeded 70% in Germany.

• Truxima reached 30% market share in Europe and the US; Herzuma held the leading position in Europe, with share rising across Europe and Japan.

• Yuflyma 2024 annual sales were KRW 349.1bn versus KRW 143.5bn in 2023; Vegzelma sales were KRW 221.2bn versus KRW 49.4bn.

• Zymfentra prescription and shipment volumes rose through 2024 as formulary listings expanded with PBM-affiliated insurers.

Biosimilar pipeline and R&D

• Portfolio plan targets 11 products in 2025 and 22 by 2030; combined original-product markets for the 22 pipeline products are projected at $182bn in 2030.

• SteQeyma and Avtozma received US and EU approvals in 2024 and early 2025; Omlyclo, Eydenzelt, Stoboclo/Osenvelt and other biosimilars advanced through approvals or review.

• Biosimilar candidates include Ocrevus, Cosentyx, Keytruda and Darzalex; CT-P53 was in Phase 3, while CT-P55 had a Phase 3 IND approved in Aug. 2024.

• Novel drug pipeline includes ADCs CT-P70, CT-P71 and CT-P73, plus multispecific antibodies CT-P72, NBD04 and NBD05; first IND submissions are targeted from 2025 onward.