Samsung Biologics has established itself as a leading CDMO and one of the most impactful biopharmaceutical companies in the world. Just halfway through 2021, they’ve already made numerous groundbreaking decisions that include partnerships, investments, and plans that have sparked the interest of the biopharma and CDMO industries.
Here are some of the most promising developments when it comes to the leading CDMO Samsung Biologics.
$205B Investment Planned for 2023
Samsung Group, Samsung Biologics’ parent company, recently announced a $205B investment across its biopharmaceutical, semiconductor and telecommunications businesses, among others.
Samsung Group will channel $154 billion toward upgrades to domestic facilities and operations in Korea. This includes Samsung Biologics building two new plants, dubbed Plant 5 and Plant 6, at its existing hub in Incheon.
Q2 2021 Financial Results
When Samsung Biologics announced their Q1 2021 results earlier this year, they exceeded all projections and showed one of the most profitable and successful quarters in the company’s history. Now, in Q2, figures show equally promising results that display strong numbers year over year, and speak to a promising and secure future for the leading CDMO.
Here are the highlights from Samsung Biologics’ Q2 report:
• Q2’21 revenue of KRW 412.2 billion increased 34% compared to Q2’20.
• Q2’21 operating profit of KRW 166.8 billion increased 105.7% compared to Q2’20.
• Stable business operations and a high utilization rate across all plants
• Continuous investments to deliver the company’s future growth plans
First Annual Sustainability Report
As the global leader in the CDMO industry, Samsung Biologics eyes becoming a leader in sustainable business practices as well. l. This year they published their first-ever annual sustainability report, which details the company’s efforts over the last ten years and it’s plan for the next decade.
The company’s CEO, John Rim, had this to say:
“The publication of our annual sustainability report showcases our aims to accelerate innovation and contribute to building a healthier future for all stakeholders. As we have always been since our founding in 2011, Samsung Biologics will continue to carry out its social accountability – creating a safer and healthier culture, reducing its environmental footprint, and increasing reporting transparency on ESG initiatives.”
The company plans to become an even more eco-friendly business environment, including plans to install solar powered generators, eco-friendly refrigerants, and more.