Celltrion is accelerating its push into Southeast Asia by launching two anticancer drugs in Vietnam.
The strategy is to expand its product portfolio in pharmerging markets in Asia and Latin America—emerging markets where the pharmaceutical and drug sectors are growing rapidly—to sustain earnings growth.
Celltrion said on the 15th that on the 9th (local time) in Vietnam it launched the blood cancer treatment Truxima (rituximab) and the metastatic colorectal and breast cancer treatment Vegzelma (bevacizumab).
It came about three months after obtaining local sales approval in Mar. this year. With the latest launches, Celltrion's lineup in Vietnam has increased to four, including the autoimmune disease treatment Remsima (Infliximab) and the breast and stomach cancer treatment Herzuma (trastuzumab).
The company plans to drive prescription growth by boosting synergies in hospital sales and bidding based on its expanded product portfolio.
Celltrion's Vietnam subsidiary plans to actively use the hospital network and bidding experience built during Herzuma sales to secure supply chains for new products. In fact, after Herzuma's launch, it won many of the trastuzumab tenders at major local hospitals, proving its direct sales capabilities.
Celltrion's market dominance is expanding not only in Vietnam but also in key Asian countries. According to IQVIA, Remsima leads the market in Singapore with a 96% share and ranks No. 1 in Thailand (77%) and Malaysia (59%).
Remsima SC, the world's only subcutaneous (SC) formulation of Infliximab, is also rapidly expanding its market in Hong Kong. Remsima SC holds a 29% share in Hong Kong, and combined with Remsima, the share reaches 82%, establishing itself as the leading treatment in the local Infliximab market.
Results are continuing in anticancer drugs as well. Herzuma ranks No. 1 in Thailand with an 82% share and remains in the lead in Hong Kong (64%) and Malaysia (53%). Truxima also holds the top prescription share in Singapore (81%) and Thailand (74%).
Celltrion's product lineup is also expanding its influence in Latin America. In Costa Rica, Remsima and Truxima have effectively preempted the market, while in Ecuador Truxima holds about 80%, and in the Dominican Republic and Paraguay Remsima holds about 80% each.
Celltrion plans to push the launch of follow-on products such as Remsima SC in Vietnam and to introduce key products in Indonesia, where it established a subsidiary last year. In Latin America, it will further strengthen its market influence by launching follow-on products and expanding bids with public institutions.
A company official said, "With the new anticancer launches, we can pursue a more aggressive sales strategy in Vietnam," and added, "Focusing on pharmerging markets where we already have competitiveness, we will expand the launch of high-revenue follow-on products to sustain earnings growth."