Celltrion Pharm Inc. (068760)

Celltrion Pharm is a comprehensive pharmaceutical company supplying chemical drugs and biopharmaceuticals to domestic and international markets. Its main business areas include the manufacturing and sale of specialty pharmaceuticals (such as tablets and hard capsules) and the exclusive domestic distribution of biopharmaceuticals developed by its parent company, Celltrion. Key products include chemical drugs such as the liver protectant 'Godex' and the hypertension treatment 'Dilatrend', as well as various biosimilars like the autoimmune disease treatments 'Remsima' and 'Yuflyma', and the anticancer drugs 'Truxima', 'Herzuma', and 'Vegzelma'. As of 2025, the revenue breakdown is approximately 39.89% from the chemical drug business, 24.35% from the biosimilar business, and 26.02% from the contract manufacturing organization (CMO) segment. Its main customers are domestic hospitals and pharmacies, and it is expanding its reach into overseas markets through the expansion of its global CMO business. Celltrion Pharm's core competitiveness lies in the excellent production facilities and quality control capabilities of its Cheongju plant, which has obtained US FDA and European EU-GMP certifications. In particular, it has established a foundation to expand its biopharmaceutical contract manufacturing organization (CMO) business through its pre-filled syringe (PFS) production facilities. Furthermore, by securing exclusive domestic distribution rights for various biosimilar products from its parent company, Celltrion, it maintains a stable product portfolio and market position. Celltrion Pharm has shown consistent growth, with revenue increasing from KRW 104.8 billion in 2016 to KRW 173.5 billion in 2019, and reaching KRW 536.4 billion in 2025, a 12.3% increase year-over-year. Operating income turned profitable from KRW -15.0 billion in 2016 to KRW 8.7 billion in 2017, but decreased to KRW 3.6 billion in 2018. It improved to KRW 14.7 billion in 2019 and recorded KRW 56.1 billion in 2025, showing strong growth of 50.7% year-over-year. This is attributable to the stable sales of key products, the successful market entry of new products, and cost improvements. In Q4 2025, revenue reached KRW 398.2 billion and operating income was KRW 40.0 billion, demonstrating significant growth in quarterly performance as well. Celltrion Pharm's financial health is sound. As of 2019, the debt-to-equity ratio remained stable at 68.19%, and the current ratio was 126.63%, indicating good short-term liquidity. ROE improved from -7.63% in 2016 to 3.07% in 2019, demonstrating a gradual recovery in profitability. Celltrion Pharm aims to become one of the top 5 pharmaceutical companies in Korea by 2030. To achieve this, it is pursuing entry into the global CMO business through expanded PFS production capacity, accelerated development of ADC anticancer drugs and new drug platform technologies, and expansion of its chemical and biopharmaceutical product portfolio. The company is expected to continue its sustainable growth through the successful market entry of high-profit new biosimilar products and global market expansion.