Samsung Biologics surpasses $821 million in sales in H1
來源：開云體育app官方網站發布日期：2023-01-26 00:45:21 瀏覽：95
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| A manufacturing plant of Samsung Biologics in Songdo, Incheon. Korea Times file |
By Lee Kyung-min
Samsung Biologics has recorded over 1 trillion won ($821 million) in sales in the first six months of this year, buoyed by the rapid growth of its contract development manufacturing organization (CDMO) business, the biotech affiliate of Samsung Group said, Wednesday.
Its sales in the April-June period came to 651.4 billion won, up 59 percent year-on-year, and operating profit came to 169.7 billion won, up 1.75 percent over the same period. Net income stood at 152 billion won, up 25.11 percent.
Underpinning the all-time high in sales was the robust performance of its new subsidiary, Samsung Bioepis, a biosimilar developer purchased in April from Biogen, a U.S. multinational biotech firm. The operating profit of Biologics almost doubled from sales of Bioepis biosimilars in the April-June period.
"We were able to achieve a strong performance, thanks to growing global demand from clients, coupled with robust growth of the new subsidiary," a Samsung Biologics official said.
Among its clients are global multinational pharmaceuticals and biotech firms including Janssen, Merck, GSK, Eli Lilly and Novartis, all of which signed business deals with the firm in the first six months of this year.
Samsung Biologics is fortifying its research and development (R&D) activities, a major strength that will cement its lead in the CDMO field.
The company plans to expand its booming CDMO business further, as illustrated by the purchase of 357 million square meters of land in Songdo in the Incheon Free Economic Zone, July 18, to build its second bio campus.
Also thriving is its contract manufacturing organization (CMO) business. A total of 73 CMO orders secured as of June since the launch of the firm in 2011 have raised its total amount of orders to $7.9 billion.
The firm's manufacturing plants 1, 2 and 3 are in full operation. Plant 4 is under construction with plans to begin partial operations in October of this year. Samsung Biologics will account for 30 percent of global CMO production once all four plants are fully operating.
Local brokerages say Samsung Biologics will see even larger profits in the months to come, lifted by the rapid depreciation of the Korean won against the U.S. dollar, offsetting lower production output due to manufacturing plant maintenance in the first six months.
"The strong U.S. dollar is expected to persist throughout the second half of the year, which is an upside for the firm, as it has significantly high exposure to dollar transactions," Yuanta Securities researcher Ha Hyun-soo said in a report.
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