Samsung Biologics, led by CEO John Rim, reported Q3 2024 consolidated sales of $861 million and an operating profit of $245.5 million, showing respective year-over-year growth of 15% and 6%. The company credited the quarterly sales milestone of over $725 million to full-capacity operations at Plants 1 through 3 and the gradual ramp-up of Plant 4.

Standalone, Samsung Biologics recorded $774 million in sales with an operating profit of $322.6 million, reflecting a 21% rise in sales and a 17% increase in profit from the prior year. Subsidiary Samsung Bioepis contributed $240 million in sales and a $49.2 million operating profit, largely from increased biosimilar product sales.

Samsung Biologics raised its full-year sales growth forecast from 10-15% to 15-20%, anticipating annual revenue to surpass $2.9 billion, a milestone for a Korean biopharmaceutical firm. The company's client base includes 17 of the world’s top 20 pharmaceutical companies, and it has secured a cumulative order value of $15.4 billion since its inception in 2011.

In preparation for further expansion, Samsung Biologics is building a fifth plant with a 180,000-liter capacity, slated for operation in April 2025. The company has achieved 326 global regulatory manufacturing approvals as of September and maintained a 99% batch success rate last year. In its Contract Development Organization (CDO) segment, Samsung Biologics introduced four new technology platforms and custom service packages in 2024.

In line with advancing technology investments, Samsung Biologics plans to complete a dedicated ADC (Antibody-Drug Conjugate) production facility within the year. Through its Samsung Life Science Fund II, it invested in Flagship Pioneering’s AI-focused drug development platform in July.

Samsung Bioepis holds marketing authorizations for nine biosimilars in Korea and eight each in Europe and the U.S. In July, it launched the Stelara biosimilar “SB17” in Europe with Sandoz and initiated direct sales in Korea. In September, the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) issued a positive opinion for Samsung’s Eylea biosimilar (SB15), setting expectations for its European approval as an ophthalmology treatment by year-end.