Celltrion seeks European approval for anticancer biosimilar

South Korean biopharmaceutical firm Celltrion Inc. said Tuesday that it has sought European approval for the sale of its anticancer biosimilar candidate.

The European Medicines Agency will review Celltrion's application to sell CT-P16, which references Switzerland-based Roche Holding's blockbuster pill Avastin.

Avastin, which kills cancer cells by removing blood vessels, is approved to treat numerous cancers, including metastatic colorectal cancer.

Avastin raked in sales of 7.7 trillion won ($6.4 billion) globally last year, and the European Union market alone was sized at 2.2 trillion won.

Celltrion also sought approval with local drug authorities and the US Food and Drug Administration. (Yonhap)