Samsung Biologics Reports Third Quarter 2022 Financial Results
INCHEON, South Korea, Oct. 26, 2022 /PRNewswire/ -- Samsung Biologics (KRX: 207940.KS), a leading contract development and manufacturing organization, released today its fiscal year 2022 third-quarter financial results, announcing that the company's cumulative revenue in fiscal year 2022 surpassed KRW 2 trillion.
John Rim, CEO of Samsung Biologics, said: "This past quarter saw strong performance and growth due to a consistent momentum in signing new contracts, helping us meet client demand for integrated offerings and deliver long-term value. Not only have we delivered on our commitments by commencing GMP operations of Plant 4 within just 23 months from the start of its construction, we have also developed and launched our next-generation bio-technologies – S-DUAL™ and DEVELOPICK™ – which will help streamline and accelerate the antibody development process to save time and cost for our clients."
THIRD QUARTER 2022 RESULTS
Samsung Biologics in the third fiscal quarter recorded a consolidated revenue of KRW 873 billion, operating profit of KRW 324.7 billion, and net profit of KRW 129.2 billion.
[Consolidated Earnings Results]
[Unit: KRW billion]
FOURTH QUARTER & FISCAL YEAR 2022 OUTLOOK
As previously announced, Samsung Biologics commenced GMP operations of Plant 4, the world's largest single bio-manufacturing plant, within just 23 months since its groundbreaking. The construction of the 240,000-liter CDMO plant is expected to be completed in 2023, designating Samsung Biologics as the top global manufacturing hub with a total capacity of 604,000 liters, a volume equivalent to over one-fourth of worldwide CMO capacity.
Samsung Biologics launched its new proprietary development technology platforms – S-DUAL™ and DEVELOPICK™ – a high-yield bispecific antibody platform and a rapid developability assessment platform.
Samsung Biologics also achieved several business milestones, including the signing of a land-purchasing agreement for Bio Campus II with 30% greater land area for additional capacity and platform growth. Then in August, a $15 million investment through the Samsung Life Science Fund, a joint venture with Samsung C&T, was granted to Senda Biosciences, a U.S.-based biotechnology company committed to fostering core technologies needed to develop next-generation biopharmaceuticals.
In September, Samsung Biologics received EcoVadis' Gold Sustainability Rating in recognition of its ongoing sustainable management efforts, placing the company within the top 5 percentile.
For more details on performance and financials, please refer to the Earnings Release.
About Samsung Biologics Co., Ltd.
Samsung Biologics (KRX: 207940.KS) is a fully integrated CDMO offering state-of-the-art contract development and manufacturing services. With proven regulatory approvals, the largest capacity, and the fastest throughput, Samsung Biologics is an award-winning partner of choice and is uniquely able to support the development and manufacturing of biologics products at every stage of the process while meeting the evolving needs of biopharmaceutical companies worldwide. For more information, visit samsungbiologics.com.
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SOURCE Samsung Biologics
Company Codes: Korea:207940