Samsung Biologics tops W2tr profit on strong CDMO growth

Samsung Biologics said Wednesday that it logged 4.56 trillion won ($3.1 billion) in revenue and 2.07 trillion won in operating profit last year, marking the first time a Korean biopharmaceutical company has surpassed 2 trillion won in annual operating profit.

According to a Samsung Biologics regulatory filing, the Korean contract development and manufacturing organization, or CDMO, leader saw last year’s annual revenue and operating profit increase by 30 percent and 57 percent from 2024 driven by the ramp-up of its fourth plant, full-capacity operation at its other plants and favorable exchange rates.

The company also secured three orders worth 1 trillion won or more, with its annual order backlog surpassing 6 trillion won.

In the fourth quarter alone, Samsung Biologics posted 1.29 trillion won in revenue and 528.3 billion won in operating profit, up 35 percent and 68 percent on year, respectively.

The CDMO company said it expects earnings to grow by 15 to 20 percent this year from 2025 levels, noting that the forecast does not reflect the sales contribution from its newly acquired biopharmaceutical production site in Rockville, Maryland.

Samsung Biologics, which announced the $280 million takeover of GSK’s facility at the end of last year, is expected to close the acquisition by March this year. The Rockville site will add 60,000 liters to the Korean firm’s Songdo-based production capacity, bringing the total to 845,000 liters.