Celltrion (068270) Investor presentation summary

Business outlook

• Of 65 companies conducting global clinical trials on matching biosimilars from 2013–2023, 15 commercialized products in the US and Europe; 4 exceeded $1B in FY2023 biosimilar sales.

• Product roadmap shows 6 products currently, 11+ marketed products and 22+ total products.

• Sales outlook: KRW 2.2T in 2023, KRW 3.5T in 2025e and KRW 5.0T in 2030e.

Zymfentra and IBD expansion

• First and only subcutaneous infliximab; formulation patent protection through 2037 and administration patents through 2038–2040.

• Listed on all 3 major PBM formularies by Oct 2024; reimbursement expansion to PBM-affiliated insurers scheduled for Nov 2024–Jan 2025.

• Prescription volume rose from April through September; Q4 growth was expected to benefit from Sep advertising, with insurer reimbursement processes nearing completion.

• At 102 weeks, monotherapy and combination therapy showed comparable efficacy and safety, supporting the potential to replace combination therapy.

• Exploring a single-injector TNF-α + IL-23 cocktail for subcutaneous induction and maintenance therapy, including high-dose options.

Antibody-based pipeline

• CT-P70 and CT-P71 preclinical results were presented at World ADC 2024; Phase 1 IND submissions were planned for 2025.

• Pipeline plans include 2025 IND submissions for ADCs CT-P70, CT-P71 and CT-P73, and bispecific antibody CT-P72; NBD04 and NBD05 INDs planned for 2026.

• CT-P70 and CT-P71 showed superior tumor growth inhibition versus cited benchmarks in preclinical evaluations.

• ADC platform technology was licensed from Pinotbio, and bispecific antibodies are being co-developed with Abpro.