Up­dat­ed: Sam­sung Bi­o­log­ics spells out ex­pan­sion plans in South Ko­rea and US

The CD­MO arm of one of South Ko­rea’s largest con­glom­er­ates has post­ed its year-end re­sults and plans for 2023, which in­clude new con­struc­tion.

Sam­sung Bi­o­log­ics net­ted north of KRW 3 tril­lion ($2.4 bil­lion) in 2022 rev­enue and an op­er­at­ing prof­it of KRW 983.6 bil­lion ($799 mil­lion), which the com­pa­ny tout­ed on Fri­day as “record-high earn­ings.” The rev­enue boost was 55% com­pared to 2021.

“Our steady fi­nan­cial per­for­mance in the fourth quar­ter was dri­ven by sol­id busi­ness growth with strong op­er­a­tional ex­cel­lence and full uti­liza­tion across all plants, fur­ther ac­cel­er­at­ed by the full in­clu­sion of Sam­sung Bioepis in 2022,” said Sam­sung Bi­o­log­ics CEO John Rim in a re­lease. The com­pa­ny closed on its ac­qui­si­tion of Sam­sung Bioepis in April.

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