Samsung Biologics’ Impressive Third Quarter Encourages Their Investments for the Future
Samsung Biologics entered 2021 with their best quarter to date, revealing their Q1 numbers to an impressive industry that often sees companies struggle to survive in a competitive market. Given that the year 2020 was a struggle for many companies and industries, Samsung Biologics’ continued success proves that they have invested and expanded correctly.
Now, they’ve released their Q3 earnings report— and the results are even more impressive than the previous period. Everyone can have a great first quarter, but it can be a challenge to maintain momentum over time.
What the Report Says
Here are the key touchpoints found in the Samsung Biologics Q3 2021 report:
- Q3’21 revenue of KRW 450.7 billion increased 64% compared to Q3’20.
- Q3’21 operating profit of KRW 167.4 billion increased 196% compared to Q3’20.
- Stable supply, strong operational excellence and a high utilization rate across all plants.
- Active investment on expansion, pre-sales activities of Plant 4 and ESG efforts to deliver the company’s future growth plans.
Behind the Report
Samsung Biologics recently partnered with Moderna to help produce COVID-19 vaccines, and they also plan to add mRNA vaccine drug substance manufacturing capabilities.
Meanwhile, Samsung announced a substantial $200 billion investment that is largely earmarked for biopharma and technology sectors, including the construction of additional plants for Samsung Biologics.
John Rim, CEO of Samsung Biologics, said that the success of the third quarter showed the company’s dedication to quality and consistency, despite supply chain disruptions and an ongoing global pandemic. The CEO outlined future plans for the company, saying, “Looking forward, we remain focused and positive on fulfilling our responsibility as a leading company in the global CDMO market. We continue to be excited with the progress we are making on our pipeline expansion in terms of the breadth of service offerings and the introduction of new technologies.”
Outlook for Remainder of 2021
Samsung Biologics’ future as a biopharmaceutical company is bright, with construction of their super-massive Plant 4 on track to be completed in 2023. Meanwhile, their new San Francisco research & development center is fully equipped for cell line development and closely located to its U.S. partners.