The global antibody-drug conjugate (ADC) market has entered a competitive commercialization phase. With 'Enhertu' leading the oncology market, major pharmaceutical companies are accelerating late-stage clinical trials, expanding indications, and pursuing large-scale mergers and acquisitions.
According to market research firm IQVIA, the global breast cancer treatment market was valued at $51 billion last year, marking a 12% increase from the previous year. The breast cancer market recorded the highest sales within the global oncology market, which is valued at $280 billion. It is projected that the global breast cancer market will grow to $218 billion by 2035, quadrupling in size over the next decade.
The key driver of this growth is the emergence of antibody-drug conjugates (ADCs). ADCs combine antibodies that target cancer cells with potent cytotoxic drugs, allowing for precise targeting of cancer cells while minimizing damage to normal cells. They are gaining attention as next-generation therapies that address the limitations of traditional chemotherapy, rapidly changing the treatment paradigm for breast cancer.
Particularly, 'Enhertu,' co-developed by AstraZeneca and Daiichi Sankyo, has established itself as a blockbuster, drawing significant market interest. Enhertu generated approximately $3.5 billion in sales last year, emerging as one of the leading products in the global oncology market.
The success of Enhertu has influenced the strategies of major pharmaceutical companies. Global firms such as Roche, Pfizer, and Gilead are expanding their ADC pipelines focused on breast cancer and intensifying competition in combination therapies and indication expansions. Investment in the sector has also ramped up. Pfizer entered the race by acquiring ADC leader Seagen for about $43 billion, while Merck signed a development and commercialization agreement worth up to $22 billion for three ADCs with Daiichi Sankyo in the same year. As of 2024, there are 21 approved ADCs worldwide, with 15 of them receiving approval from the U.S. Food and Drug Administration (FDA).
In South Korea, companies are also accelerating their ADC commercialization efforts, particularly in breast cancer targeted therapies. Ligand Pharmaceuticals is conducting a total of eight global clinical trials, including a Phase 3 trial for a breast cancer treatment.
The company has secured technology export contracts worth a cumulative 9.6 trillion won, leveraging its linker and payload technology. Recently, it raised 500 billion won through the National Growth Fund, establishing a foundation to conduct late-stage clinical trials directly. Analysts suggest that the government's investment reflects a high evaluation of the commercialization potential of domestic ADC technology, providing options to enhance the value of candidate substances before pursuing technology transfers.
Aimed Bio is currently conducting a global Phase 1 trial for its FGFR3-targeted ADC 'AMB302,' which it licensed to U.S.-based Biohaven. Intecell has also initiated development with the first patient dosing of 'ITC-6146RO.' Celltrion has advanced three ADC candidates—CT-P70, CT-P71, and CT-P73—into clinical stages, with CT-P70 and CT-P71 designated as FDA fast track, gaining momentum in development.
Industry experts anticipate that competition in the ADC market will intensify. While generics face profitability constraints due to price reduction pressures, ADCs are regarded as innovative technologies with high added value and potential for technology exports.
The domestic contract development and manufacturing organization (CDMO) sector is also expanding its capabilities. Samsung Biologics is operating ADC-dedicated production facilities and aims to establish a dedicated production line for ADC finished pharmaceuticals by the first half of 2027. Lotte Biologics has built ADC production facilities at its Syracuse Bio Campus in the U.S. and plans to expand its business portfolio with a mass production base at its Songdo Bio Campus.
Hwang Joo-ri, head of external cooperation at the Korea Bio Association, stated, "The domestic ADC industry is in the process of building an ecosystem. To enhance overall competitiveness, we need to expand the DP ecosystem capable of handling various modalities and accumulate experience in high-difficulty processes like cell and gene therapies (CGT)."
* This article has been translated by AI.
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