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Photo = Celltrion |
[Alpha Biz= Kim Jisun] Celltrion announced on the 24th that its autoimmune disease treatment “Steqeyma” (active ingredient: ustekinumab) will be sold at the American retail giant Costco. This follows just two weeks after the product’s U.S. launch.
On Saturday (local time), Celltrion signed an agreement with Costco Health Solutions, a subsidiary of Costco that manages prescription drug benefits (PBM). Under this agreement, Steqeyma will be reimbursed for PBM members and Costco employees at Costco pharmacies across the U.S.
This contract successfully registers Steqeyma as a preferred drug, laying the foundation for early market dominance. Drugs that are registered as preferred drugs typically receive higher-tier rankings in insurance company formularies, which leads to prioritized prescriptions over competing products. In the highly competitive biosimilar market, being registered as a preferred drug provides a significant competitive advantage, and Steqeyma’s market expansion is expected to accelerate.
Through this agreement with Costco, Celltrion has secured a market previously dominated by the original product. As part of the agreement, the original product, which was previously listed, will be excluded from the formulary, and Steqeyma will take over the market share, resulting in faster prescriptions.
Celltrion's U.S. subsidiary is also accelerating discussions with other PBMs, including one of the three major PBMs currently in the final contract stage.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
