Celltrion (068270) Investor Day 2024 summary

Strategic direction and business transformation

• Transitioning from a biosimilar pioneer to an innovator, leveraging 20 years of antibody R&D and manufacturing expertise, with a robust pipeline in IBD and oncology, including cocktail therapies and oral formulations.

• Expanding product portfolio from 6 to over 22 marketed products projected by 2030, with 11 additional biosimilars to launch by 2030 and one innovative drug by next year.

• Entering the CDMO/CRDMO business, leveraging internal technology and expertise, with a new 100% subsidiary established in 2024 and plant construction starting in 2025.

• Expanding R&D centers to the US, Europe, and India, aiming for global scientific talent recruitment.

• Developing advanced platforms in ADCs, bispecific/trispecific antibodies, mRNA, microbiome, peptides, and GLP-1 for obesity.

Financial guidance and growth outlook

• Achieved ₩2.2 trillion in sales in 2023, with guidance to reach ₩3.5 trillion in 2024 and ₩5 trillion by 2025.

• Projected sales of ₩7–8 trillion by 2026 and ₩10 trillion by 2027, with EBITDA margins targeted to match leading Korean industrial peers.

• Product-level forecasts: Remsima and Zymfentra each targeting ₩700 billion–₩1 trillion in sales next year, Truxima at ₩400 billion, and other biologics contributing ₩200–₩300 billion.

• 90%+ achievement rate expected for next year’s revenue targets.

• Only a few companies, including Celltrion, have achieved stable biosimilar commercialization and sales over $1 billion annually.

IBD pipeline expansion

• Zymfentra, the first and only subcutaneous infliximab, launched in the US with patent protection until 2037–2040 and rapid market uptake expected.

• Achieved rapid market penetration, listed on top 3 PBMs, and supported by strong advertising and clinical evidence.

• Prescription volume and shipment trends show steady growth, with further acceleration expected as reimbursement finalizes.

• Clinical data supports Zymfentra monotherapy as comparable to combination therapy, expanding its potential use.

• Pipeline includes biosimilars for Stelara (US launch in Feb next year), vedolizumab, cocktail therapies, and innovative oral delivery platforms like the RaniPill® capsule.