Samsung Biologics surpassed 2 trillion won in standalone sales for the first time since its founding in the first half of the year. Large orders from global pharmaceutical companies and improved production efficiency boosted its performance.
Samsung Biologics announced on the 23rd that its consolidated sales for the first half of this year reached 2.5882 trillion won, a 23% increase compared to the same period last year. During the same period, operating profit rose 46.7% year-on-year to 962.3 billion won.
Excluding its subsidiary Samsung Bioepis, Samsung Biologics recorded standalone sales of 2.0138 trillion won and operating profit of 907.1 billion won in the first half.
In the second quarter of this year, consolidated sales and operating profit stood at 1.2899 trillion won and 475.6 billion won, respectively, reflecting increases of 11.5% and 9.46% compared to the same period last year.
The company adjusted its sales growth forecast for the year upward from the previous 20-25% to 25-30%.
The company attributed the growth in performance to improved operational efficiency in factories 1 through 3 and the expansion of operations at factory 4. Currently, Samsung Biologics' production capacity is 784,000 liters, the largest in the world. In April, it commenced operations at factory 5, with a capacity of 180,000 liters. There are plans to add three more factories at the second Bio Campus by 2032, raising total production capacity to 1,324,000 liters.
The contract development and manufacturing organization (CDMO) order achievements also played a role. Samsung Biologics began the year with a record order worth over 2 trillion won, subsequently sealing large contracts with global pharmaceutical companies. It has already surpassed 60% of last year's cumulative order amount early in the year. The total cumulative order amount since its establishment is approximately $18.7 billion (25.8 trillion won).
Thanks to its order achievements, Samsung Biologics is working to enhance its global competitiveness. In May, it announced plans for a spin-off to fully separate its biopharmaceutical CDMO business from the biosimilar business. The strategy is to solidify its identity as a pure CDMO corporation while aiming to have the two different businesses assessed independently.
Besides CDMO, it is also accelerating into new businesses. Recently launched clinical trial outsourcing (CRO) services "Samsung Organoids" will facilitate collaboration with clients from the early stages of discovering new drug candidates and build partnerships. Diversification of modalities, including antibody-drug conjugates (ADCs), multi-antibodies, and adeno-associated viruses (AAV), for gene therapies is also underway.
Additionally, Samsung Biologics plans to strengthen its order activities targeting top global pharmaceutical companies by opening a sales office in Tokyo, Japan, early this year, following those in New Jersey and Boston.
Samsung Bioepis is also continuing its growth in the biosimilar market. In the first half, its sales reached 801.6 billion won, and operating profit was 217.8 billion won, driven by the launch of two new products (Stelara and Soliris biosimilars) in the U.S. market and increased sales.