Celltrion announced on the 22nd that it has signed a listing agreement for its autoimmune disease treatment drug "Steqeyma" (ustekinumab) with one of the top five pharmaceutical benefit managers (PBM) in the United States.
This contract marks the second achievement for Celltrion in signing with a large U.S. PBM for the listing of Steqeyma. Previously, on the 3rd of last month, it also signed a contract with one of the three major PBMs in the United States.
Celltrion noted, "We have secured two of the top five PBMs, which account for about 90% of the total insurance market in the U.S.," and added, "We expect positive effects to continue in ongoing negotiations with other large PBMs."
In the United States, expense reimbursement is made only for medications listed in the prescription books managed by PBMs. Thus, signing a contract with a PBM is essential for selling products. Celltrion plans to strengthen its sales and marketing efforts domestically in the U.S.
According to IQVIA, a pharmaceutical market research firm, the global market size for ustekinumab, the active substance of Steqeyma, is estimated to be about $21.66 billion (approximately 30.32 trillion won) in 2024. Of this, the U.S. market size is about $16.73 billion (approximately 23.39 trillion won), accounting for 77%.
Thomas Nusbickel, Chief Commercial Officer (CCO) of Celltrion's U.S. corporation, said, "With the contracts being signed consecutively with major PBMs just over a month after the U.S. launch, the coverage for Steqeyma is being steadily expanded," and added, "Celltrion will continue to collaborate with various stakeholders, including insurers, physicians, and patient advocacy groups, to ensure that American patients suffering from chronic diseases can quickly benefit from the treatment of Steqeyma."