Press Releases
Samsung Biologics Reports Third Quarter 2022 Financial Results
- Recorded consolidated revenue of KRW 873 billion in Q3’22
- Recorded consolidated operating profit of KRW 324.7 billion in Q3’22
- Started partial operations at Plant 4 within 23 months since groundbreaking as previously committed and launched two new development platforms
Incheon, S. Korea, Oct. 26, 2022 – Samsung Biologics (KRX: 207940.KS), a leading contract development and manufacturing organization, released today its fiscal year 2022 third-quarter financial results, announcing that the company’s cumulative revenue in fiscal year 2022 surpassed KRW 2 trillion.
John Rim, CEO of Samsung Biologics, said: “This past quarter saw strong performance and growth due to a consistent momentum in signing new contracts, helping us meet client demand for integrated offerings and deliver long-term value. Not only have we delivered on our commitments by commencing GMP operations of Plant 4 within just 23 months from the start of its construction, we have also developed and launched our next-generation bio-technologies – S-DUAL™ and DEVELOPICK™ – which will help streamline and accelerate the antibody development process to save time and cost for our clients.”
THIRD QUARTER 2022 RESULTS
Samsung Biologics in the third fiscal quarter recorded a consolidated revenue of KRW 873 billion, operating profit of KRW 324.7 billion, and net profit of KRW 129.2 billion.
FOURTH QUARTER & FISCAL YEAR 2022 OUTLOOK
As previously announced, Samsung Biologics commenced GMP operations of Plant 4, the world’s largest single bio-manufacturing plant, within just 23 months since its groundbreaking. The construction of the 240,000-liter CDMO plant is expected to be completed in 2023, designating Samsung Biologics as the top global manufacturing hub with a total capacity of 604,000 liters, a volume equivalent to over one-fourth of worldwide CMO capacity.
Samsung Biologics launched its new proprietary development technology platforms – S-DUAL™ and DEVELOPICK™ – a high-yield bispecific antibody platform and a rapid developability assessment platform.
Samsung Biologics also achieved several business milestones, including the signing of a land-purchasing agreement for Bio Campus II with 30% greater land area for additional capacity and platform growth. Then in August, a $15 million investment through the Samsung Life Science Fund, a joint venture with Samsung C&T, was granted to Senda Biosciences, a U.S.-based biotechnology company committed to fostering core technologies needed to develop next-generation biopharmaceuticals.
In September, Samsung Biologics received EcoVadis’ Gold Sustainability Rating in recognition of its ongoing sustainable management efforts, placing the company within the top 5 percentile.
For more details on performance and financials, please refer to the Earnings Release.
Innovations in Pharmaceutical Technology (IPT)
IPT provides a platform for cutting-edge ideas, concepts, and developments shaping the future of pharmaceutical R&D.