Recorded highest performance ever in the first quarter
Sales, growth of 31% compared to the same period last year
[서울=뉴시스] Panoramic view of Samsung BioLogics headquarters (Photo = Provided by Samsung BioLogics) 2024.02.13. [email protected] *Resale and database prohibited
[서울=뉴시스]Reporter Jaehee Hwang = Samsung BioLogics, a biopharmaceutical CDMO (consignment development and manufacturing) company, recorded KRW 946.9 billion in consolidated sales in the first quarter of this year.
Samsung BioLogics announced on the 24th that it recorded its highest ever sales and operating profit in the first quarter due to increased sales contribution from Plant 4 and expansion of biosimilar business.
Consolidated sales in the first quarter were KRW 946.9 billion and operating profit was KRW 221.3 billion. Compared to the same period last year, sales increased by KRW 226 billion (31%) and operating profit increased by KRW 29.6 billion (15%).
Samsung BioLogics’ first quarter separate sales recorded KRW 669.5 billion, up KRW 78.5 billion (13%) from the same period last year due to increased sales contribution from Plant 4. Operating profit recorded 232.7 billion won, down 1.7 billion won (1%) from the same period last year due to increased costs due to depreciation costs at Plant 4, which began full operation.
Samsung BioLogics signed a series of contract manufacturing (CMO) contracts with global pharmaceutical companies such as UCB and MSD in the first quarter. The company is proving its competitiveness by signing a consignment development (CDO) contract with RigaChem Bioscience to collaborate in the development of ADC (antibody-drug conjugate) treatments.
Since its founding, the total accumulated orders have exceeded $12.5 billion (approximately KRW 17 trillion), and a total of 14 of the top 20 global pharmaceutical companies are secured as customers.
Samsung BioLogics is building its 5th factory with the goal of completion in April 2025 to respond to the increasing demand for biopharmaceuticals. Factory 5 was designed as a 180,000 liter production plant that integrates the best practices of factories 1 to 4, and when Factory 5 is completed, Samsung BioLogics will secure a total production capacity of 784,000 liters.
In terms of portfolio expansion, we are actively investing in the ADC field. A dedicated ADC production facility is being built with the goal of completion at the end of this year, and the company invested in BrickBio, a US-based company with its own ADC technology, through the ‘Samsung Life Science Fund’ established with Samsung C&T last March. .
Also, in January of last year, a strategic cooperation memorandum of understanding (MOU) was signed with Flagship Pioneering, a U.S.-based venture capital (VC) specializing in global bio and healthcare.
The first quarter sales of its subsidiary Samsung Bioepis recorded 280.1 billion won, an increase of 66.7 billion won (31%) compared to the same period last year, due to increased sales of biosimilar products in overseas markets such as the United States and Europe. Operating profit recorded 38.1 billion won, an increase of 2 billion won (6%) compared to the same period last year, based on external growth due to increased product sales.
Samsung Bioepis has 11 types of biosimilar products and pipelines, including 7 types of products, including arthritis treatment ‘Enbrel’ biosimilar (SB4) and autoimmune disease treatment ‘Humira’ biosimilar (SB5). is sold in the global market.
In addition, the company is strengthening its research and development portfolio in various disease fields through the development of a biosimilar (SB27) of Keytruda, the world‘s No. 1 selling cancer immunotherapy drug. Keytruda biosimilar plans to accelerate clinical trials through an ‘overlap’ strategy of conducting global phase 1 and 3 clinical trials simultaneously.
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