Celltrion(068270) said on the 24th that it has applied to the European Medicines Agency for marketing authorization of the psoriasis treatment CT-P55. It is a biosimilar to Cosentyx, developed by the Swiss drugmaker Novartis.
If it clears the European approval hurdle, it is expected to become available for prescription to patients with psoriasis, psoriatic arthritis and ankylosing spondylitis. Earlier clinical trials demonstrated equivalence to the original drug. Safety was also similar, the company said.
Cosentyx is an autoimmune disease treatment that posted $6,668 million (about 10 trillion won) in sales last year. Its compound patents expire in January 2029 in the United States and July 2030 in Europe, respectively. Once the patents end, biosimilars are expected to launch and trigger a market share battle.
Celltrion applied for marketing authorization of CT-P55 in Canada in May and in Korea in June. A Celltrion official said, "We will carry out the remaining approval procedures without a hitch."