bearish
Celltrion (068270 KS): Competition Makes US Approval of New Oncology Biosimilar Unappealing
140 Views30 Sep 2022 00:45
SUMMARY
- Celltrion Inc (068270 KS) has recently received FDA approval for Vegzelma, a biosimilar to the reference product Avastin (bevacizumab), for the treatment of multiple types of cancer.
- Apart from Celltrion, FDA has already approved three Avastin biosimilars. With increasing competition, ASP for the market leader Mvasi in the U.S. declined 39% y/y and 21% q/q in 2Q22.
- Despite being present in the U.S. oncology biosimilar market for quite a long time, Celltrion has not been able to gain dominant market share for its existing products.
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Tina Banerjee
Global Healthcare Analyst
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