Celltrion announced that it has acquired Swiss pharmaceutical distributor iQone Healthcare Switzerland for approximately $22.5 million.

The acquisition process was completed this month through Celltrion's Hungarian subsidiary, with iQone becoming a subsidiary of the company. Since 2016, iQone has served as Celltrion's distribution partner in Switzerland.

With this acquisition, Celltrion aims to accelerate the expansion of its direct sales performance by leveraging iQone's established local distribution network and expertise. Additionally, Celltrion plans to actively utilize the licensing rights of products independently licensed by iQone to drive sales growth beyond its own product portfolio.

According to IQVIA Switzerland’s antibody drug market is valued at approximately $127 million for infliximab, $123 million for adalimumab, and $37 million for rituximab. These are among Celltrion's key products. In the second quarter of this year, Celltrion's Remsima (infliximab) product line captured a 61% market share in Switzerland.

Celltrion expects subsequent products to quickly gain market share through direct sales in a more stable operational environment. Next year, the company plans to launch biosimilars such as Steqeyma (ustekinumab) for Stelara and Eydenzelt (aflibercept) for Eylea.

iQone, a rapidly growing company in Switzerland, reported a 57% year-on-year increase in revenue last year, totaling $22.2 million.

Yoo Min-hyuk, head of Celltrion’s European business division, stated, "Successfully acquiring iQone, a partner we've worked closely with in Switzerland for years, enables us to transition to direct sales without disrupting our operations, thus allowing for faster prescription growth. The acquisition of a competitive local company is a significant step in our European business expansion, and we will strive to translate this into tangible sales results."