Celltrion (068270) Investor presentation summary

Growth and financial performance

• 2015–2025 revenue CAGR was 22%, versus 10% for global biologics and 6% for global pharma; 2025 and 2026 revenue estimates are Bloomberg consensus.

• 3Q25 consolidated sales were KRW 1,029.0bn, up 16.7% YoY; biologics sales rose 18.7% and non-biologics sales fell 5.8%.

• 3Q25 operating profit reached KRW 301.4bn, up 45.1% YoY; OP margin was 29.3%, up 5.7 percentage points YoY.

• High-margin young-product sales grew 52.1% YoY; COGS ratio returned to the 30% range post-merger, with further improvement expected from 4Q25.

Biologics sales and commercial update

• 3Q25 young-product sales were KRW 521.1bn, 54% of biologics sales and up 52% YoY; the product mix is expected to continue shifting toward young products from 4Q.

• Remsima SC reached a record 28% share in EU5 in 2Q25; U.S. Zymfentra prescriptions grew an average 31% monthly.

• Yuflyma global sales increased 1.7x YoY, with 3Q YTD sales of KRW 399bn; Vegzelma global sales grew 2.0x YoY, with 3Q YTD sales of KRW 214bn.

• Stoboclo and Osenvelt and Omlyclo launched in 3Q25; combined sales of three new products reached KRW 83bn in 3Q25, up 29% QoQ.

• Stoboclo and Osenvelt launched in the U.S. in July 2025; Omlyclo launched in Europe in September, with full-scale EU5 commercial operations planned for 4Q25.

Biosimilar pipeline and launches

• Five new products obtained U.S. and EU approvals, with full launches targeted by end-2025; addressable markets are projected to expand from $55bn in 2024 to $103bn in 2025.

• Avtozma and Eydenzelt are among the planned 2H25 launches; Avtozma is a tocilizumab biosimilar and Eydenzelt is an aflibercept biosimilar.

• CT-P51, a Keytruda biosimilar, and CT-P44, a Darzalex biosimilar, are in Phase 3 trials; the listed market sizes are $32.7bn and $11.7bn, respectively.