Samsung Biologics reported on the 23rd that its operating profit for the first quarter reached a record 486.7 billion won, which is a 119.9% increase compared to the same period last year.
Sales during the same period rose by 37.1% to 1.2983 trillion won. This marks the highest quarterly sales and operating profit ever. The company attributed the strong performance to increased sales contribution from the fourth plant, robust sales of biosimilars, and favorable exchange rate effects.
Subsidiary Samsung Bioepis recorded sales of 400.6 billion won and operating profit of 128 billion won thanks to the expansion of biosimilar product sales in the global market.
Despite this growth, Samsung Biologics maintained the growth rate guidance it provided earlier in January for the total sales outlook for 2025, projecting a growth rate of 20-25% compared to the previous year. The company explained that it considered uncertainties due to changes in the global economic environment and exchange rate fluctuations.
Samsung Biologics is set to operate the fifth plant with a capacity of 180,000 liters this month. The total production capacity will reach 784,000 liters. Following the fifth plant, the company plans to add three more plants by 2032 to establish a total production capacity of 1.324 million liters.
The company is also continuing its investments for portfolio expansion. A dedicated production facility for antibody-drug conjugates (ADCs) began operations in the first quarter, and recently, it has been investing in promising biotech corporations, including the U.S. diagnostic company C2N Diagnostics, through the Samsung Life Sciences Fund.
Having established sales offices in New Jersey, Boston, and now Tokyo, Japan, the company has expanded its marketing efforts in the Asia region.
Samsung Bioepis is also continuing its growth trend. It has increased its sales and operating profit through existing products like the autoimmune disease treatment "Enbrel" biosimilar (SB4), and "Stelara" biosimilar (SB17) sales in Europe, along with the launch of new products in the U.S.