Samsung Biologics(207940) said on the 23rd that it posted consolidation sales of 1.3209 trillion won and operating profit of 586.4 billion won in the second quarter of this year. Sales rose 30% from a year earlier, and operating profit increased 23%.
The company said it ran plants 1 through 4 at maximum capacity to produce products. A strong dollar also helped improve results. Contract development and manufacturing (CDMO) signs deals with overseas drugmakers and receives payments in dollars. The company noted it expects to achieve this year's sales target through assets including the 60,000-liter (L) plant in Rockville, U.S., acquired earlier.
Samsung Biologics plans to open a sales base office in the Netherlands in Europe in the third quarter of this year. It previously opened offices in the U.S. in 2023 and Japan in 2025. A Samsung Biologics official said, "We will secure sales bases in the U.S., Europe, Japan, and the Asia-Pacific region, which are considered the three major markets for biopharmaceuticals."
Samsung Biologics has logged a cumulative $21.7 billion (about 33 trillion won) in orders since its founding. It has cumulatively won 115 contracts for contract manufacturing and 176 for contract development. Recently, it decided to acquire Swiss Polypeptide Group. It is a corporations engaged in peptide contract development and manufacturing, with glucagon-like peptide (GLP)-1 obesity drugs and metabolic disease treatments as its main businesses.
Samsung Biologics is also continuing development of messenger RNA (mRNA) and antibody-drug conjugates (ADC). ADC is a technology that treats cancer cells by attaching a drug to an antibody. It leaves healthy cells untouched and precisely targets only cancer cells.