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Seoul Economic Daily EnglishCodex · 实盘观望把握 5/10
北京时间·🕒 发布 07-10 09:17:18时区推断·⟳ 抓取 12:53:33回填·⚡ 决策 07-12 12:59:13·107.3 天前

Celltrion欧洲高毛利生物类似药份额继续提升

Omlyclo欧洲份额约16%、西班牙约71%,Vegzelma欧洲份额约28%,Yuflyma约22%,Steqeyma约9%,显示产品线经营改善。

📄 原文Seoul Economic Daily English↗ 原文
Celltrion's High-Margin Follow-On Products Expand Share in Europe
Celltrion's high-margin follow-on product lineup is recording steady growth across Europe. According to pharmaceutical…
观望 Celltrion(068270.KS)
经营数据偏正面但缺少销售额、利润增量和指引上修,等待财报或公司给出量化业绩影响。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)

研究档案

🔎 新鲜度:最早出现 2026-07-10 · 扩散 medium · price-in 风险 medium ↗

关键理由

  • Omlyclo欧洲份额约16%、西班牙约71%,Vegzelma欧洲份额约28%,Yuflyma约22%,Steqeyma约9%,显示产品线经营改善。
  • 但这些是IQVIA一季度份额数据和公司销售趋势更新,并非新获批、独家订单或业绩指引上修。
  • 量级上,多个产品份额提升可能支撑全年收入结构和毛利率,但正文没有给出单品销售额、价格、利润率或相对Celltrion收入基数的新增金额。

主要风险

  • 缺少单品销售额和利润增量,不能判断份额提升是否已反映在市场预期和全年指引中。
  • 生物类似药价格竞争、招标节奏和欧洲库存采购可能导致份额提升不等于利润同步提升。

反向证据

  • 做多前查反向 · 来源 web · 影响 none
    未执行进一步检索;首读已判断不是可交易级新增催化,反证不足不改变观望结论。
    检索:Celltrion biosimilar Europe price competition tender risk 2026

原文全文

展开原文 · 2,898 字
Celltrion's high-margin follow-on product lineup is recording steady growth across Europe.
According to pharmaceutical market research firm IQVIA on the 10th, Omlyclo (active ingredient: omalizumab), a chronic spontaneous urticaria treatment launched in Europe last September as a first-mover biosimilar, recorded a share of about 16% as of the first quarter of this year.
In Spain, one of Europe's five major markets, the product recorded a share of about 71%, establishing itself as a core treatment leading the local omalizumab market just six months after launch. Prescriptions also expanded rapidly in other major European countries, including Portugal (47%), Ireland (41%), and Norway (31%).
Vegzelma (active ingredient: bevacizumab), a treatment for metastatic colorectal cancer and breast cancer, is also maintaining its market influence. Over the same period, Vegzelma recorded a share of about 28% in Europe, holding the top position in the bevacizumab market for 21 consecutive months.
Celltrion's product lineup is also continuing its performance in the autoimmune disease field. Yuflyma (active ingredient: adalimumab) holds the top prescription position in Europe's adalimumab market for a full year with a share of about 22%. Its performance is clearly confirmed across Europe's five major markets with significant market influence, including the United Kingdom (49%) and Italy (46%).
Steqeyma (active ingredient: ustekinumab), a high-margin follow-on product, also recorded a share of about 9% and is continuing its growth every quarter. Prescriptions are expanding in individual countries such as Portugal (41%), Sweden (28%), and Italy (20%), while sales that maximize synergy between product lines, such as bundling with other autoimmune disease products, are also actively taking place.
To maximize the performance of its high-margin product lineup, Celltrion plans to expand local sales personnel and strengthen sales capabilities, while also actively pursuing marketing activities targeting key opinion leader (KOL) groups, including participation in core global conferences such as the European Respiratory Society (ERS) and the United European Gastroenterology Week (UEGW).
Celltrion expects the performance of its high-margin follow-on product lineup to show even steeper growth toward the end of the year, driven by factors that expand second-half sales stemming from the characteristics of the European pharmaceutical market. These include ▲bids in major European countries concentrated in the second and third quarters, ▲initial volume deliveries based on order results, and ▲expanded year-end drug inventory purchases aimed at preparing for the start of the following year.
"As large bids are expected to continue to be held in major countries, we will do our utmost to achieve both sales expansion and performance growth in the second half," a Celltrion official said.

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