Celltrion has surpassed its full-year operating profit from last year through the third quarter and set new records for quarterly performance. Growing sales of new biosimilars in the United States and Europe, along with improved manufacturing efficiency, are raising expectations that the company will exceed its annual earnings targets.
According to industry sources on the 20th, Celltrion’s preliminary consolidated results for the third quarter showed revenue of about $1 billion and operating profit of about $340 million. The figures represent year-over-year increases of 45.8% and 69.2%, respectively, marking record highs for both revenue and operating profit in a single quarter.
It was also the first time the company’s quarterly operating profit exceeded $333 million. Its operating margin reached 34%, up 4.7 percentage points from a year earlier.
For the first nine months of the year, revenue is estimated at approximately $2.69 billion and operating profit at about $856 million. Revenue approached last year’s full-year total of about $2.78 billion, while cumulative operating profit had already surpassed the full-year figure of approximately $779 million.
Celltrion set quarterly operating profit targets of $200 million for the first quarter, $267 million for the second quarter and $333 million for the third quarter. Actual results exceeded the target in all three consecutive quarters, putting the company on track to achieve its annual revenue target of about $3.53 billion and operating profit target of $1.2 billion. Sales growth is expected to continue in the fourth quarter, supported by expanding sales of new products in the United States and Europe.
New Products Gain Ground in the U.S. and Europe; Omlyclo Expands Globally
The growth is largely attributed to the ramp-up in sales of new products in global markets. Existing flagship products continue to generate stable revenue, while newer products are emerging as additional growth drivers.
In the United States, prescriptions for newer products such as Steqeyma and Yuflyma continue to expand. Truxima and Inflectra are also supporting results through their established positions in the market.
In Europe, Omlyclo, the world’s first omalizumab biosimilar, is gaining momentum. Available in 26 European countries, Omlyclo exceeded a 90% market share in Spain as of July this year. Its launch in the U.S. market this month has raised expectations for further growth in global sales.
Other products, including Aptozma and Osenvelt, are also expanding their sales base by securing results in tenders across European countries. As new products continue to enter markets, Celltrion is diversifying its portfolio while improving profitability.
Analysts Focus on Growth Potential as Company Expands Into Novel Drugs and CDMO
Analysts are highlighting that the impact of new products is extending beyond revenue growth to improvements in profitability. HSBC Global Research estimated that the addressable market for Celltrion expanded from about $48 billion to approximately $88.7 billion through five new products launched since 2025.
Daiwa Securities viewed positively the 1.6-percentage-point improvement in operating margin from the previous quarter, despite a weaker exchange-rate environment. The improvement was attributed to a combination of expanding new-product sales, greater manufacturing efficiency and lower costs.
Building on growth in its biosimilar business, Celltrion is also developing its novel drug and contract development and manufacturing organization (CDMO) businesses. It is working on CT-G32, a candidate for obesity treatment, as well as antibody-drug conjugate (ADC) candidates, seeking to secure longer-term growth drivers. The strategy is to maintain its biosimilar-centered business base while broadening its growth engines through drug development and manufacturing.
“Results from new product launches are beginning to materialize, allowing us to meet our quarterly targets smoothly and sustain qualitative growth,” a Celltrion representative said. “We will accelerate our transformation into a global big pharma company by expanding our biosimilar portfolio, developing novel drugs and strengthening our manufacturing competitiveness.”
