Ambition to become a full service biopharmaceutical company
While the general public has been aware of the Samsung brand for years thanks to their successful consumer electronics business, the Samsung name has recently received public attention for another reason— the growing success of Samsung’s biopharmaceutical arm, Samsung Biologics.
Let’s take a look at the leaps that Samsung Biologics has taken over their most recent period of growth and examine what goes into the making of one of the industry’s most respected CDMOs and biopharmaceutical companies.
A Record-Breaking 2020
2020 served as a groundbreaking year for many biopharmaceutical companies that sought to provide vital services during an unprecedented pandemic. For Samsung Biologics, this service led to one of the most impressive periods of growth in the company’s history.
As 2020 drew to a close, Samsung Biologics announced that its revenue had increased by a record +66%. This was in addition to a record-high sales mark obtained in that year’s 4th quarter.
Samsung Biologics had earlier announced that it will expand their geographical reach, broaden their portfolio, and enhance their existing manufacturing capabilities. As 2020 gave way to 2021, that’s exactly what the company is doing.
A Strong Start to 2021
As astounding as Samsung Biologics’ growth was in 2020 when compared to many other biopharmaceutical companies, their first quarter of 2021 also showed strong growth.
- Q1’21 revenue of KRW 260.8 billion increased 26% compared to Q1’20.
- Q1’21 operating profit of KRW 74.3 billion increased 19% compared to Q1’20.
- Q1’21 operating margin held steady at 28%.
- All manufacturing facilities remain fully operational, without any disruptions caused by the COVID-19 pandemic.
- Construction for the new Plant 4 stays on track with active pre-sales forecasts.
John Rim, CEO of Samsung Biologics, had this to say:
“Our first-quarter financial performance was in line with our expectations and provides us with a strong start to the 2021 fiscal year. We have maintained a solid performance, and continue to see momentum from our expanding CDMO business globally while simultaneously making continuous advancements in our biosimilar subsidiary and new business models. As the world continues to navigate the difficult times amid COVID-19, we remain committed to supporting our clients and patients in delivering life-saving therapeutics in a timely manner.”
Major Impact on the Fight Against COVID-19
Samsung Biologics was also instrumental in helping combat the COVID-19 pandemic, making an impact, and appears set to do even more to improve the world’s standing against the virus in 2021 and beyond.
“This vaccine is paramount to people around the world in the fight against the COVID-19 pandemic, and we truly appreciate our client Moderna for entrusting and choosing to partner with Samsung Biologics for the fill and finish of this important vaccine,” said John Rim, CEO of Samsung Biologics. “Due to the high level of urgency in supplying the vaccine to the global population, we have set immediate action plans and schedule to make mRNA-1273 available for commercial distribution in the early second half of 2021.”
