First quarter sales KRW 946.9 billion, operating profit of KRW 221.3 billion, the effect of the full operation of the 4th factory, visualized by performance, cumulative orders more than KRW 17.22 trillion … CDMO competitiveness proven, biosimilars flourish in major markets such as the US and Europe, developing and launching Epis follow-up products on track … “Growth will continue”
Samsung BioLogics 4 Factory
Samsung BioLogics managed to overcome the global economic downturn and recorded its highest ever performance in the first quarter. Performance was driven by the fourth factory, which began operating in the second half of last year, and the expansion of Samsung Bioepis’ biosimilar business.
Samsung BioLogics announced in a public announcement on the 24th that it recorded consolidated sales of 946.9 billion won and operating profit of 221.3 billion won in the first quarter of this year. Compared to the same period last year, sales increased by 31% and operating profit increased by 15%. Although there are some disappointments in terms of profitability as the operating profit growth rate does not meet the sales growth rate, it is evaluated as a good report card with the highest quarterly performance ever.
According to company, sales of Samsung BioLogics increased by 13% to 669.5 billion won. The effects of Factory 4’s full operation can be seen in performance. Operating profit was 232.7 billion won, maintaining a similar level to the first quarter of last year. Growth was limited due to higher financial costs such as depreciation costs for Work 4.
An official from Samsung BioLogics said, “We expect quarterly performance to increase gradually with the full implementation of Plant 4,” and added, “We aim to increase annual sales by 10-15% compared to the previous year.”
Samsung BioLogics 4 Factory
Detailed achievements in the first quarter of this year include the signing of a series of contract manufacturing (CMO) contracts with global pharmaceutical companies such as UCB and MSD, and the development of a shipment with LigaChem Biosciences for the development of antibody drug conjugate (ADC) treatments, which is under the spotlight as the next generation anticancer drug contract is signed. Proving its global CDMO competitiveness, the total accumulated orders exceeded approximately KRW 17.22 trillion. It is also worth noting that 14 of the top 20 global pharmaceutical companies have been secured as customers.
In terms of facilities, although it is less than a year since Plant 4 became fully operational, it is also expanding facilities to respond to the growing demand for biopharmaceuticals. Factory 5 is under construction with the aim of completion in April next year. Factory 5 will have a production capacity of 180,000 litres, incorporating best practices from existing factories. When Plant 5 is operational, Samsung BioLogics will have a total production capacity of 784,000 litres. In terms of portfolio expansion, the company said it is actively investing in ADC therapeutics. A dedicated production facility is also being built with the aim of completion by the end of this year. Additionally, last month, the company invested in BrickBio, an American ADC treatment development company, through the ‘Samsung Life Science Fund’ established with Samsung C&T.
Samsung Bioepis HQ
Samsung Bioepis is gradually seeing the effects of incorporating subsidiaries. If you look at the growth rate alone, it far surpasses Samsung BioLogics. This is because the biosimilar business is booming in major foreign markets such as the United States and Europe. First quarter sales increased 31% to 280.1 billion won, and operating profit increased 6% to 38.1 billion won. Future product development and launch preparations are also underway, and future performance is expected to improve gradually. Stelara biosimilar ‘Epistech (ingredient name: ustekinumab)’, which recently received final product approval in Korea and Europe, is preparing for the fastest launch among domestic pharmaceutical and bio companies, and Keytruda Bio, the immunotherapy drug that selling No. 1 in the world , The development of the similar product ‘SB27’ is also accelerating by conducting phase 1 and 3 clinical trials side by side.
In the case of Samsung Bioepis’ product portfolio, it sells 7 products in the global market, including Enbrel biosimilar (SB4) and Humira biosimilar (SB5), and has 4 types in the pipeline.
A Samsung Bioepis official said, “We expect to confirm our position as an industry leader by obtaining product approvals for a number of products this year,” and added, “We expect our performance growth to continue through product approvals and launches subsequent. .”
Kim Min-beom, Donga.com reporter mbkim@donga.com
#Factory #led #Epis #pushed.. #Samsung #BioLogics #record #high #quarter #performance
