Logo
Friday, 29 March 2024
Tuesday, 04 Feb 2020 12:00 pm

Samsung Biologics Reports 64% Jump in FY19 Earnings, Sees Global Expansion in 2020

Debt to Equity improved with base effects from stock disposal gains with the exercise of Biogen call option in 2018.  Cash flow from operating activities also turned profitable due to growth in augmented sales and operating performance. A significant growth was seen in the number of Contract Development (CDO) contracts signed in 2019, and the total number of Contract Manufacturing (CMO) contracts signed increased by 30%.

newsImage
 

Samsung Biologics, a pharmaceutical Contract Manufacturing Organization (CMO), recorded high for the fiscal year 2019, reporting 30.9% growth in sales at 701.6 billion won, and 64.6% growth in operating profit at 91.7 billion won compared to the previous year. The strong performance was driven by increased operations at all three manufacturing plants.  

Debt to Equity improved with base effects from stock disposal gains with the exercise of Biogen call option in 2018.  Cash flow from operating activities also turned profitable due to growth in augmented sales and operating performance. A significant growth was seen in the number of Contract Development (CDO) contracts signed in 2019, and the total number of Contract Manufacturing (CMO) contracts signed increased by 30%.

Since its launch in 2011, Samsung Biologics has been expanding its service offerings beyond CMO with state-of-the-art development, manufacturing, and laboratory testing services. The company has continued positive momentum and recently further reinforced its manufacturing capabilities in small scale manufacturing and aseptic filling.

"With a flawless regulatory approval record, the highest capacity, and the fastest throughput, Samsung Biologics continues to demonstrate strong growth as a world-class CMO. With our background in business excellence and our unwavering commitment to quality and healthcare, we are uniquely positioned to support the evolving needs in the development, manufacturing, and testing of biological products to the benefit of our clients, patients, and shareholders," Dr. Tae Han Kim, CEO of the company added.


Neha Pandey

Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.


Smarter Decisions with Smart News

Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.

Subscribe to our newsletter
Get the latest in your inbox weekly Sign up for the fully charged newsletter
© The News and Media Division of The Insight Partners 2024 | All Rights Reserved | Privacy Policy