Samsung Biologics will participate in the 2024 Bio International Convention, the largest biopharmaceutical exhibition in the industry, to showcase its contract-based drug manufacturing and development capabilities, the company said Monday.
Samsung Biologics, the biotech arm of Korea s Samsung Group, said Wednesday its net profit jumped 26.5 percent on-year in the first quarter thanks to strong sales.
Samsung Biologics, a leading contract development and manufacturing organization, announced Wednesday that the company’s earnings in the first quarter this year hit an all-time high. In the January-March period, Samsung Biologics’ sales increased by 31.3 percent on-year to 946.9 billion won ($690 million) from the previous year’s 720.9 billion won. Its operating profit also reached 221.3 billion won.
Samsung Electronics Chair and Samsung Group leader Lee Jae-yong on Friday visited the group’s biotech arm in Incheon, calling on executives and staff members to set higher goals after the unit posted all-time high earnings last year. At Samsung Biologics’ biopharmaceutical campus in the Songdo Industrial Cluster in Incheon, the chair inspected the construction site of its fifth plant with a capacity of 18.