'Record After Record'... Company Achieves All-Time High Results with Operating Profit Doubling Despite Global Downturn (Comprehensive)

Record-Breaking Quarterly Results Driven by Plant 4 and Biosimilars
Operating Profit Doubles Year-on-Year
Sales Growth Guidance for 2025 Maintained at 20-25%
Outlook Reflects Global Economic Uncertainties

A Samsung Biologics employee is inspecting a bioreactor at Plant 4. Photo by Samsung Biologics

Samsung Biologics achieved its highest-ever quarterly performance in the first quarter of this year. This result was driven by the full-scale revenue contribution from Plant 4 and strong sales of biosimilars, despite the threats posed by the global economic downturn and protectionism.

Record-Breaking First Quarter Performance

On April 23, Samsung Biologics announced through a public disclosure that its consolidated revenue for the first quarter of this year reached 1.2983 trillion KRW, with an operating profit of 486.7 billion KRW. Compared to the previous year, revenue increased by 37.1% and operating profit surged by 119.9%. The company also maintained its growth trend from the previous quarter, when it posted revenue of 1.2564 trillion KRW and operating profit of 325.7 billion KRW.

On a separate basis for the first quarter, Samsung Biologics recorded revenue of 999.5 billion KRW and operating profit of 430.1 billion KRW, supported by the full operation of Plants 1 to 3, the stable ramp-up of Plant 4, and favorable exchange rates. Samsung Bioepis reported revenue of 400.6 billion KRW and operating profit of 128 billion KRW through expanded sales of biosimilar products in the global market.

In January, Samsung Biologics presented a sales growth guidance for 2025, projecting a 20-25% increase year-on-year. In its first quarter earnings announcement, the company maintained this sales growth rate guidance, taking into account uncertainties arising from changes in the global economic environment and exchange rate fluctuations.

As of the end of the first quarter, Samsung Biologics reported consolidated assets of 17.437 trillion KRW, equity of 11.2801 trillion KRW, and liabilities of 6.1569 trillion KRW. The company’s financial stability remains strong, with a debt ratio of 54.6% and a borrowing ratio of 11.9%.

Samsung Biologics Plant 4 exterior. Photo by Samsung Biologics

Samsung Biologics Begins Operation of Plant 5 Following Ramp-Up of Plant 4

Samsung Biologics plans to maximize customer satisfaction and maintain its growth momentum by strengthening its three-pronged expansion strategy?production capacity, portfolio, and global presence?along with its core management values, known as '4E': Customer Excellence, Operational Excellence, Quality Excellence, and People Excellence.

This month, the company began operating Plant 5, which has a capacity of 180,000 liters, raising Samsung Biologics’ total production capacity to 784,000 liters. Starting with Plant 5, Samsung Biologics plans to add three more plants to its second Bio Campus by 2032, securing a total production capacity of 1,324,000 liters and maintaining a significant lead in global manufacturing capacity.

The company is also continuing to invest in portfolio expansion. A dedicated antibody-drug conjugate (ADC) production facility began operations in the first quarter, and proactive investments in promising biotech companies are underway, including a recent investment in the US-based diagnostics company C2N Diagnostics through the Samsung Life Science Fund.

Additionally, after establishing sales offices in New Jersey and Boston in the United States, Samsung Biologics has opened a sales office in Tokyo, Japan, further expanding its global network to offer prompt services by reducing physical distance from major clients in the Asian market.

The contract development (CDO) business is also expanding, as the company maintains stable collaboration with existing partners while increasing cooperation with new clients. Through the organic linkage between CDO and contract manufacturing (CMO) businesses, Samsung Biologics continues to secure more CDO contracts from major clients, including global big pharma companies.

Meanwhile, Samsung Biologics is also committed to ESG management for a sustainable future. It is the only global contract development and manufacturing organization (CDMO) to participate in the Sustainable Markets Initiative (SMI), a global climate response initiative led by King Charles III of the United Kingdom. The company is actively working toward global carbon neutrality, including serving as the chair of the healthcare supply chain task force within the initiative.

Samsung Bioepis Sells 8 Types of Biosimilars in Europe and 6 in the US

Samsung Bioepis significantly increased its revenue and operating profit even without milestone payments, thanks to robust sales of existing products such as the 'Enbrel' biosimilar (SB4) and the 'Stelara' biosimilar (SB17) in Europe, as well as the launch of new products in the United States.

Samsung Bioepis has obtained regulatory approval for a total of 11 biosimilars in the fields of immunology, oncology, ophthalmology, hematology/nephrology, and endocrinology in the global market. The company currently sells 8 products in Europe, 6 in the United States, and 9 in Korea.

This year, through commercial partnerships with global pharmaceutical companies, Samsung Bioepis introduced two new products in the United States, the world’s largest pharmaceutical market. In February, it launched the 'Stelara' biosimilar 'Pyzchiva' through Sandoz, and in April, it began selling the 'Soliris' biosimilar 'Epysqli' through Teva.

In February, Samsung Bioepis once again demonstrated its world-class research and development capabilities by obtaining US and European approvals for the 'Prolia·Xgeva' biosimilar (SB16), a treatment for bone disorders. As a result, all biosimilars in its pipeline that have completed clinical trials are now ready for commercialization.

Samsung Bioepis plans to continue maximizing its commercial capabilities in the global market, striving to provide more patients with access to high-quality biopharmaceuticals through timely product launches and sales.