Biosimilar drug company Celltrion shows stellar performance last year

Lim Chang-won Reporter Posted : 2018-01-19 18:20 Updated : 2018-01-19 18:20
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[Courtesy of Celltrion]

SEOUL, Jan. 19 (Aju News) -- Celltrion Inc., a leading South Korean biopharmaceutical firm, posted an 82 percent increase in its 2017 net profit, helped by the growing popularity of its drugs abroad.

Net profits stood at 403 billion won (368 million US dollars) last year on a nonconsolidated basis, compared with 221 billion won a year ago, the company said in a regulatory filing on Friday. Operating profit rose from 253 billion won a year ago to 517 billion won.

The company attributed its stellar performance to brisk sales of Remsima in Europe and the United States. Remsima is a copy of Janssen Biotech, Inc.'s Remicade treating rheumatoid arthritis and Crohn's disease. Truxima, used to treat patients with non-Hodgkin's lymphoma, chronic lymphocytic leukemia and rheumatoid arthritis, is also popular in Europe.

Celltrion's stock has surpassed Hyundai Motor in terms of market value this month, with its capitalization reaching a record 37.1 trillion won after Samsung Electronics and SK Hynix.

Celltrion,  one of the most favorite shares among foreign investors on the tech-heavy KOSDAQ market, plans to be re-listed on the benchmark KOSPI in February at the request of shareholders.