John Lim, CEO of Samsung Biologics, noted during the annual shareholders' meeting held on the morning of the 14th at the Songdo Convensia in Yeonsu-gu, Incheon, that "the 5th factory, which will open the second bio camp era of Samsung Biologics next month, is scheduled for completion" and that "we plan to continuously secure the world-class ultra-competitive gap through this."
A total of 1,701 shareholders participated in the meeting both online and offline. Lim said, "The 5th factory, scheduled for completion next month, has set a record of shortening the construction period by 11 months compared to the construction of the same-sized 3rd factory," and added, "Upon the completion of the 5th factory, Samsung Biologics will be able to respond more quickly and flexibly to an overwhelming production demand of 784,000 liters."
Samsung Biologics is a leading contract development and manufacturing organization (CDMO). After surpassing 3 trillion won in annual sales for the first time in 2022, it broke through 4 trillion won in just two years. Last year, it recorded consolidated sales of 4.5473 trillion won and an operating profit of 1.3201 trillion won. The company made significant deals valued at 1 trillion won with major global pharmaceutical companies last year, achieving its first-ever annual cumulative order amount surpassing 5 trillion won since its establishment, and it has recorded a cumulative order amount of $17.7 billion to date.
The market followed the performance of Samsung Biologics. Although the domestic stock market was sluggish last year, Samsung Biologics' stock price surpassed 1 million won per share, showing a rising trend. In February, its market capitalization exceeded 84 trillion won, ranking it third in the domestic market capitalization, and on the 17th of last month, it recorded an all-time high of 1,185,000 won. The company's stock price closed at 1,053,000 won the previous day.
Samsung Biologics is expanding its business areas beyond antibody medicines and messenger ribonucleic acid (mRNA) vaccines to next-generation anticancer drug technology, antibody-drug conjugates (ADCs). The company completed a dedicated production facility for ADCs in December of last year and plans to establish a production line for ADC drug products (DP) by the first quarter of 2027.
Lim stated, "We plan to strengthen our expertise and expand services not only in ADCs but also in new modalities, including cell and gene therapies, such as adenovirus-related therapies." ADCs, referred to as "guided missiles" that target cancer cells, are key technologies for next-generation anticancer drugs, delivering drugs precisely to cancer cells while avoiding damage to normal cells.
Lim also mentioned ongoing efforts to expand global bases. He said, "In terms of expanding geographic bases, we are building close relationships with customers located in the United States and Europe from our sales office in New Jersey" and noted, "To extend the order range beyond the top 20 global companies to the 40th rank, we will open a sales office in Tokyo, Japan, to further strengthen our cooperative relationships with clients in Japan and other Asian countries."
At the meeting, a total of six proposals, including the approval of financial statements, amendments to the articles of incorporation, the appointment of inside and outside directors and audit committee members, and approval of the limit on director compensation, were presented and ultimately approved. Yoo Seung-ho, head of the Management Support Center, was newly appointed as an inside director, while Lee Ho-seung, former head of the Policy Office of the Presidential Secretary, was appointed as an outside director and audit committee member. Lee Chang-woo, an honorary professor at Seoul National University, who served as an outside director and audit committee chair for the past three years, was reappointed.