Samsung Biologics Becomes the First in the Industry to Surpass Annual Revenue of KRW 4.5 Trillion.

A View of Samsung Biologics' Fourth Plant.

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Samsung Biologics announced on January 22 that it recorded KRW 4.55 trillion in revenue and KRW 1.32 trillion in operating profit on a consolidated basis last year. Revenue increased by 23%, and operating profit grew by 19% compared to the previous year. The company attributed the strong performance to increased sales from its fourth plant, full-capacity operation of its first to third plants, and the successful global market entry of its biosimilar (biological generic drug) products.

 

Samsung Biologics’ total annual order intake reached KRW 5.4 trillion in 2023. The company signed three contracts worth KRW 1 trillion each with major global pharmaceutical companies in the U.S., Europe, and Asia. This year, Samsung Biologics set a new record with its largest-ever contract, signing a USD 1.41 billion (approximately KRW 2.07 trillion) deal with a European pharmaceutical company on January 14. The company stated, "Since its inception, we have secured a cumulative total of USD 17.6 billion in orders and established relationships with 17 of the world’s top 20 pharmaceutical companies."

 

Construction of Samsung Biologics’ fifth plant, with a production capacity of 180,000 liters, began in 2023 and is scheduled for completion in April. Upon its completion, Samsung Biologics will boast a global leading production capacity of 784,000 liters.

 

Samsung Biologics expects to maintain its growth momentum through stable business expansion in 2025, forecasting annual revenue growth of 20-25% compared to the previous year. This year’s projected revenue is KRW 5.57 trillion.

 

Meanwhile, Samsung Bioepis, a subsidiary of Samsung Biologics, reported KRW 1.54 trillion in revenue and KRW 435.4 billion in operating profit, marking a 51% and 112% year-on-year increase, respectively. Samsung Bioepis currently holds marketing approvals for nine biosimilar products in Europe and eight in the U.S. In November 2023, the company received a positive opinion from the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) for its biosimilar to Prolia, an osteoporosis treatment, and is expecting final approval this year.