pharm edaily

[Song Young-doo, Edaily Reporter] On July 21, Celltrion announced its preliminary consolidated earnings for the second quarter of 2025, posting sales of KRW 961.5 billion and operating profit of KRW 242.5 billion. Both figures marked the highest ever for a second quarter. Compared to the same period last year, sales rose 9.9% while operating profit soared 234.5%, with the operating margin improving to the 25% range.

The stellar performance was driven by strong demand for existing products in global markets and expanded sales of high-margin new products. In particular, the growth of high-profit products such as Remsima SC(marketed as Zymfentra in the U.S.), Yuflyma, Vegzelma, and Steqima accelerated, significantly boosting both sales and earnings. The share of sales from high-margin new products jumped to 53%, a sharp increase from 30% in the same period last year.

The growth momentum led by new products is expected to continue. In the second half of the year, Celltrion plans to sequentially launch four new products Omriclo, Aptosma, Idengelt, and Stoboclo-Osenvelt in major global markets, which is anticipated to drive a steeper growth curve compared to the first half.

Alongside the increasing share of high-margin products, ongoing cost optimization efforts have also contributed to improved profitability. Following the merger with Celltrion Healthcare, the cost of goods sold(COGS) ratio which had temporarily risen is now decreasing rapidly due to the clearance of high-cost inventory from before the merger, improved production yields(TI), higher capacity utilization at Plant 3, reduced outsourcing of active pharmaceutical ingredient(API) manufacturing, and the end of amortization on legacy product development costs. In Q2 this year, the COGS ratio fell to approximately 43%, down around 15 percentage points from 58% a year earlier. Even compared to the previous quarter, the ratio dropped by 4 percentage points in just one quarter, further boosting margins.

To promptly inform investors of its earnings growth, Celltrion proactively disclosed its preliminary Q2 results about two weeks earlier than last year. However, these are based on internal accounting and may be subject to change following an external review, with final confirmed figures to be announced separately.

A Celltrion official stated, “In Q2, sales of high-margin new products expanded significantly, allowing us to post record-high quarterly sales and operating profit. In the second half, with the launch of high-margin new products targeting major global markets such as Europe and the U.S., and the resulting market expansion, we will continue making company-wide efforts to sustain our growth trajectory.”