November 26, 2024

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Samsung Biologics logo (Samsung Biologics)

Samsung Biologics said Monday the company participated in CSLA's flagship investor forum which was held in Hong Kong on Sept. 11-14, to promote the company’s vision and business strategy.

The investors’ forum, one of the largest of its kind in Asia, is held by CLSA, an institutional broker and investment group owned by CITIC Securities.

Around 400 Asian companies and some 3,000 people from the industry joined the latest edition of the forum. Samsung Biologics was the only Korean pharmaceutical firm to attend the event.

“Investors met with Samsung Biologics’ executive members and asked mainly about Samsung Biologics’ business strategy, involving the company’s success in securing new contract manufacturing orders from global pharmaceutical firms, as well as in its ongoing expansion of manufacturing capacity,” an official from Samsung Biologics said.

Currently, Samsung Biologics is under contract manufacturing deals with 14 of the top 20 global pharmaceutical firms.

Adding to several orders from global pharmaceutical companies like Pfizer and Novartis earlier this year, the company recently secured a $242 million contract manufacturing deal with Bristol-Myers Squibb.

The number of orders worth more than 100 billion won ($74.9 million) signed this year came to eight.

The company’s earnings also surged. In the first half of 2023, it posted 1.6 trillion won in sales and 445 billion won in operating profits. For the whole year, its operating profits are expected to exceed 1 trillion won, becoming the Korean pharmaceutical company to do so.

By Shim Woo-hyun (ws@heraldcorp.com)