Celltrion posts Q2 operating profit of 451.8 billion won, up 86.3% on biosimilar sales and wider margins
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Celltrion reported record Q2 results with revenue up 45% y/y and operating profit up 86.3%, as new biosimilar launches lifted mix and manufacturing efficiency improved, pushing operating margin to 32.4%. Management raised full-year guidance above prior targets, reinforcing confidence in sustained operating leverage and pipeline reinvestment capacity. While impactful for Korean biotech equities, the news has limited immediate read-through to broad global macro markets.
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South Korea’s biopharmaceutical company Celltrion reported 2024 second-quarter revenue of 1.39 trillion won and operating profit of 451.8 billion won, up 45% and 86.3% year over year. Its operating margin rose to 32.4% as the sales mix shifted toward newly launched biosimilars and costs improved. New products accounted for 65% of biosimilar sales, supported by continued optimization of the cost structure. The company raised its full-year outlook, saying revenue and operating profit are expected to exceed its previously announced targets of 5.3 trillion won and 1.8 trillion won.
