Samsung Biologics has announced its Q3/2024 financial results, reporting that its accumulated revenue has surpassed KRW 3T for the first time and raising its annual revenue growth guidance to +15-20%. Samsung’s consolidated revenue reached KRW 1.2T for the quarter, an increase of 15% from Q3/2023.
Samsung Biologics’ quarterly highlights include entering into its largest contract manufacturing organisation (CMO) deal to date with an unnamed US based pharmaceutical company valued at KRW 1.7T (USD $1.06b) and securing 17 out of the global top 20 big pharma companies as clients.
Its subsidiary, Samsung Bioepis, reports increased revenue and operating profit of 26% and 38%, respectively, YOY. Its quarterly highlights include the launch of ustekinumab biosimilar SB17 in Europe (as Pyzchiva® in July 2024) and Korea (as Epyztek™, approved in April 2024), approval of eculizumab biosimilar SB12 in the US (as Epysqli™ in July 2024) and a positive CHMP opinion for aflibercept biosimilar SB15 in Europe (as Opuviz™ in September 2024).