South Korean biopharmaceuticals group Celltrion is betting that new variants of Covid-19 will fuel growth in the US and Europe for treatments of the disease, even as these markets vaccinate their populations.
The company expects its new Covid-19 antibody treatment to generate up to Won1.5tn ($1.3bn) of annual sales after animal tests showed it is effective against rapidly spreading coronavirus variants.
Celltrion is the only Asian developer of antiviral treatments for Covid-19 alongside Regeneron, Eli Lilly and GlaxoSmithKline, to have received the European Medicines Agency’s equivalent of emergency approval.
Kee Woo-sung, Celltrion’s chief executive, told the Financial Times that there was a huge market for treatments such as those used to bolster the immune systems of patients struggling to mount their own response to the disease.
“The market for Covid-19 vaccines is bigger than that of treatment, but there is…