Celltrion, OMLYCLO Continues Rapid Penetration in Europe... Target Price 280,000 Won

[Financial News] Daishin Securities maintained its target price of 280,000 won and a 'buy' rating for Celltrion, stating that the company is proving its growth potential by rapidly penetrating the European market with its biosimilar product, OMLYCLO. Celltrion's closing price yesterday was 177,200 won, which is approximately 58.0% of Daishin Securities' target price of 280,000 won.
On the 17th, a researcher at Daishin Securities stated that she confirmed OMLYCLO's initial market penetration speed and potential for further growth through the European Respiratory Society (ERS) 2026 and on-site meetings.
OMLYCLO is Europe's first omalizumab biosimilar and is showing rapid market penetration in major countries. OMLYCLO is a drug used for allergic diseases, and the original drug is Xolair, with Xolair's global market sales reaching 6.5 trillion won annually.
It has secured a market share of over 90% in Spain and 44% in Germany, and is recording high shares of 99% and 84% in Denmark and Norway, respectively. Daishin Securities analyzed that the effect of being the first to enter markets with limited competition and product competitiveness are leading to actual commercialization results.
The researcher analyzed, "OMLYCLO is scheduled to launch in the United States in the second half of 2026, and since Xolair has added a food allergy indication in the United States, there is greater potential for market expansion than in Europe."
Daishin Securities projected OMLYCLO's sales to reach 426.6 billion won in 2026 and 618.5 billion won in 2027. Earnings growth is also expected to continue, driven by the expansion of the biosimilar portfolio. Daishin Securities forecast Celltrion's consolidated sales for 2026 at 5.6378 trillion won and operating profit at 1.8909 trillion won. This represents year-on-year increases of 35.4% and 61.8%, respectively. By 2027, sales are estimated to reach 6.25 trillion won and operating profit 2.267 trillion won.
Daishin Securities predicted that Celltrion's opportunities in the biosimilar market would expand in the future. The researcher stated, "Celltrion has over $300 billion worth of biopharmaceuticals facing patent expiration over the next 10 years, and as clinical trial regulations for biosimilars are simplified in the United States and Europe, the burden of development time and costs will also decrease."
[email protected] Kang Jung-mo Reporter