Celltrion Juggles Biosimilar Market Share As It Shifts To Direct Marketing
Korean Firm Also Settles Avastin Litigation To Allow CT-P16 Bevacizumab Launch
Celltrion Healthcare was ultimately able to increase its revenue by 16.7%, with stronger growth expected in H2.
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The European Commission has approved Vegzelma, a bevacizumab biosimilar developed by South Korean biopharma giant Celltrion. Vegzelma joins nine other bevacizumab biosimilar marketing authorization applications approved in the EU, promising to intensify price competition for the critical late-stage cancer treatment.
Celltrion has received a positive opinion from the EMA’s CHMP for its Vegzelma bevacizumab biosimilar rival to Avastin, setting up the Korean firm to enter a competitive European market that already includes several bevacizumab biosimilars.
Celltrion has secured a US launch date for its higher-strength adalimumab biosimilar, Yuflyma, through a settlement with AbbVie. However, the company will face a number of other Humira rivals in 2023.