When it comes to exports, Celltrion Healthcare leads the way among Republic of Korea pharmaceuticals producers. The company's biosimilars are the leading exports.
The Republic of Korea’s might as a pharmaceutical producer continues to grow. The country’s Ministry of Food and Drug Safety reported a 62.5% surge in exports of medicine in 2020 to $8.7 billion, according to the Korea Biomedical Review.
The top 3 drugs among exported Korean pharmaceutical products were all biosimilars produced by Celltrion: Remsima (infliximab), $473 million; Herzuma (trastuzumab), $85.8 million; Truxima (rituximab), $65.5 million. These agents are used in the treatment of rheumatoid arthritis, breast and gastric cancer, and arthritis and lymphoma, respectively.
The top 3 international importers of Korean drugs were Germany ($1.85 billion), United States ($780 million), and Turkey ($589 million), according to the Review.
Eight biosimilar products produced in Korea were among the top 20 drugs exported in 2020.
The top 10 companies producing drugs in Korea in 2020 were Celltrion, whose output surged 149.2%, Hanmi Pharmaceutical, Chong Kun Dang, GC Pharma, inno.N, Daewoong Pharmaceutical, Yuhan, LG Chem, Dong-A ST, and JW Pharmaceutical. Almost all of these companies are involved in the production or distribution of biosimilars.
Hanmi has a heavy emphasis on insulin products. The company produced $992 million in medicines in 2020.
Celltrion’s Push Into Latin America
Celltrion said Tuesday, August 3, 2021, that it has contracted to market Herzuma and Truxima in Brazil following a successful bid to Brazil’s ministry of health. The company said it would supply trastuzumab to the public market, which accounts for 80% of trastuzumab demand in the country. Celltrion said that so far this year, it has won 8 state bids for supplying rituximab, including one in Sao Paulo, which it said is one of the largest state contracts.
“There is a great demand to substitute expensive original pharmaceuticals with biosimilar drugs with proven safety and efficacy to reduce health care costs in Central and South America,” said HoUng Kim, PhD, head of the Medical and Marketing Division at Celltrion. “We are excited to win one of the most important bids in Brazil for 2 consecutive years and will continue to expand our presence in the Central and Southern American market with our anticancer biosimilar products.”
In March 2021, Celltrion began direct sales of infliximab biosimilar in Colombia and is beginning to market rituximab and trastuzumab biosimilars there this summer. The company also plans to sell biosimilars in Peru and Chile starting in the third quarter of this year.
Click here for further reading on Celltrion's growing investment in biopharmaceutical production.
Click here for an article about Republic of Korea's 2019 pharmaceutical production and exports.
Cencora Analysis Shows Differences in Payer Coverage Between G-CSF Biosimilars
May 2nd 2024Data from a Cencora study showed some misalignment in payer coverage of granulocyte colony-stimulating factor (G-CSF) biosimilars, highlighting that while filgrastim biosimilars are often favored over the originator, reference pegfilgrastim still dominates over its biosimilars.
Decoding the Patent Puzzle: Navigating the Legal Landscape of Biosimilars
March 17th 2024On this episode of Not So Different, Ha Kung Wong, JD, an intellectual patent attorney and partner at Venable LLP, details the confusing landscape that is the US patent system and how it can be improved to help companies overcome barriers to biosimilar competition.
Biosimilars Rheumatology Roundup for February 2024—Podcast Edition
March 3rd 2024On this episode of Not So Different, The Center for Biosimilars® revisited all the major rheumatology biosimilar news from February 2024, including the FDA approval of the 10th adalimumab biosimilar, the promise for an oral delivery system for ustekinumab, and the impact of adalimumab products on COVID-19 antibodies.
Eye on Pharma: EU Ustekinumab Approval; New Golimumab Data; Evernorth Adds Humira Biosimilar
April 29th 2024The European Union gained a new ustekinumab biosimilar; Alvotech released positive results from a clinical trial evaluating a golimumab biosimilar and the reference products (Simponi and Simponi Aria), and Evernorth announced that it is set to cover an adalimumab biosimilar at zero cost to patients.