Samsung Biologics will carry out a change in listing on the 24th and make a fresh start as a "pure contract development and manufacturing organization (CDMO) corporations."
According to Samsung Biologics on the 23rd, the company announced a spin-off in May to create Samsung Bioepis Holdings by partitioning the investment and subsidiary management institutional sector. It then submitted a securities registration statement in Aug., the partitioning took effect in Sept., and an extraordinary shareholders meeting approved it in Oct.; after a split report shareholders meeting on the 3rd, all procedures were completed.
Samsung Biologics plans to focus on its core business through this partitioning to raise corporations value and completely resolve concerns about conflicts of interest that had been raised by some clients.
Samsung Biologics posted separate-basis revenue of 1.2575 trillion won in the third quarter this year, marking its highest-ever quarterly sales.
John Rim, head of Samsung Biologics, said, "With this partitioning, we have solidified our identity as a pure CDMO and created an opportunity to leap forward as a global top-tier bio corporations," and added, "Based on world-class competitiveness, we will further strengthen the company's business expertise and do our best to enhance corporate value even more."