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Korean biopharma making biosimilar copies of blockbuster biologic drugs and developing new antibody therapies, sold via its own global sales force.
Korean biopharma making biosimilar copies of blockbuster biologic drugs and developing new antibody therapies, sold via its own global sales force.
Manufactures biosimilars, near copies of expensive biotech drugs that have lost patent protection, in its own plants and sells them through its own overseas sales arm rather than through partners, which keeps a larger share of the income. Founder Seo Jung-jin controls it through Celltrion Holdings.
In one line: Korea's biosimilar-focused biotech, akin to a smaller Sandoz..
Moat: narrow (regulatory licence, scale, brand). Early mover with FDA/EMA-approved biosimilars and its own direct US/EU sales network.
Headquarters: Incheon, South Korea · Founded: 2002 · Employees: 3,153
Size Celltrion (068270.KS) is a South Korea Health Care company (Biotechnology) with a market value of $34.3B, the 9th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩211,000 on 6 Nov 2026.
Performance Over six months the shares gained 10.5%, against +28.6% for the median peer and -24.5% for the South Korea market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 39.7% over the last twelve months (peer median +14.4%); the operating margin is 32.5% (peer median 24.6%).
Valuation It trades at 34.1× forward earnings against a peer median of 22.0× (5th most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is -9 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.1 points above its cost of capital (5.4% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩5.44T | ₩4.16T | ₩3.56T | ₩2.18T | ₩2.28T |
| Revenue growth | — | +17% | +63% | -5% | — |
| Gross profit | n/a | ₩2.40T | ₩1.51T | ₩1.01T | ₩992B |
| EBITDA | n/a | ₩1.45T | ₩910B | ₩897B | ₩822B |
| Net income | ₩1.32T | ₩1.03T | ₩423B | ₩536B | ₩530B |
| Free cash flow | n/a | ₩478B | ₩727B | ₩303B | -₩120B |
| Capital expenditure | n/a | ₩332B | ₩334B | ₩358B | ₩312B |
| Total debt | n/a | ₩3.73T | ₩2.19T | ₩1.89T | ₩792B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Celltrion 068270.KS | $34.3B | +10% | +40% | 32% | 34.1× | 8.3% |
| Amgen AMGN | $249B | +40% | +9% | 36% | 18.9× | 1.8% |
| Sandoz SDZ.SW | $44.4B | +24% | +1% | 15% | 25.3× | 7.9% |
| Pfizer PFE | $168B | +14% | +1% | 26% | 10.4× | -4.3% |
| Viatris VTRS | $22.9B | +17% | +5% | 10% | 7.5× | 12.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 068270.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.0% | +5.2% | 6th highest of 21 |
| 6-month return | +10.5% | +28.6% | 10th lowest of 21 |
| Distance from 52-week high | -11.7% | -15.7% | 10th highest of 21 |
| Revenue growth (TTM) | +39.7% | +14.4% | 5th highest of 20 |
| Operating margin | 32.5% | 24.6% | 4th highest of 20 |
| Forward P/E | 34.1× | 22.0× | 5th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 8.3% | 9.6% | 8th least demanding of 16 |
| Growth delivered (Del g) | +17.6% | +16.5% | 8th highest of 16 |
| Hurdle (Req g minus delivered) | -9.3 pp | -8.4 pp | 8th least demanding of 16 |
| ROIC minus cost of capital | +2.1 pp | -0.2 pp | 10th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Celltrion 068270.KS | South Korea | $34.3B | +10% | +40% | 32% | 34.1× | 8.3% | +17.6% |
| Genmab A/S GMAB.CO | Denmark | $32.1B | +115% | +14% | 32% | 44.8× | 11.6% | +19.5% |
| Natera NTRA | United States | $44.8B | +60% | +38% | -11% | n/a | n/a | n/a |
| Iqvia IQV | United States | $44.8B | +52% | +9% | 14% | 19.7× | 17.3% | +7.5% |
| Wuxi Bio 2269.HK | Hong Kong | $25.0B | +43% | +22% | 32% | 28.7× | 21.8% | +30.2% |
| United Therapeutics UTHR | United States | $24.1B | -1% | +2% | 44% | 22.0× | -0.4% | +16.5% |
| BioNTech SE Sponsored ADR BNTX | United States | $22.8B | -7% | -1% | -38% | n/a | 5.7% | +42.6% |
| Samsung Biologics 207940.KS | South Korea | $53.7B | +3% | -20% | 43% | 38.7× | 9.6% | +31.4% |
| Lonza LONN.SW | Switzerland | $55.4B | +39% | -11% | 25% | 36.1× | 15.0% | +7.7% |
| argenx SE Sponsored ADR ARGX | United States | $57.5B | +19% | +71% | 29% | n/a | 10.9% | +151.4% |
| CSL CSL.AX | Australia | $67.2B | +105% | -2% | 26% | 22.4× | 7.1% | +11.0% |
| Neurocrine Biosciences NBIX | United States | $16.7B | +8% | +38% | 25% | 18.2× | -1.7% | +22.3% |
| BridgeBio Pharma BBIO | United States | $14.5B | +10% | +167% | -37% | n/a | n/a | n/a |
| Summit Therapeutics SMMT | United States | $13.1B | -10% | n/a | n/a | n/a | n/a | n/a |
| Elanco Animal Health ELAN | United States | $12.9B | +9% | +12% | 7% | 21.8× | 34.8% | +7.6% |
| Cspc Pharma 1093.HK | Hong Kong | $12.4B | +5% | +25% | 28% | 9.3× | -10.3% | +0.1% |
| Halozyme Therapeutics HALO | United States | $11.8B | +62% | +41% | 57% | 10.7× | 2.5% | +39.2% |
| Moderna MRNA | United States | $101B | +43% | -28% | -149% | n/a | n/a | n/a |
| Bio-Techne TECH | United States | $11.4B | +51% | 0% | 22% | 35.9× | 31.3% | +5.5% |
| Kymera Therapeutics KYMR | United States | $11.2B | +53% | +134% | -396% | n/a | n/a | n/a |
| BioMarin Pharmaceutical BMRN | United States | $10.9B | +4% | +20% | 19% | 10.3× | 6.5% | +12.0% |