Samsung Biologics' Sales Soar Thanks to Coronavirus Drugs
27 January, 2021
Samsung Biologics, Korea's greatest bio-contract manufacturing company, in Tuesday declared profits of W1.16 trillion for 2020, up 66 percent from a year earlier.
Operating profit surged an impressive 219.3 percent to W292.8 billion (US$1=W1,107).
This was the first time the company achieved a lot more than W1 trillion in sales.
Only around twelve pharmaceutical companies in Korea post gross annual sales surpassing W1 trillion.
The boost came from coronavirus monoclonal antibody treatments that Samsung Biologics manufacturers under contract for Eli Lilly and GSK.
It won US$1.78 billion worth of orders this past year, 2.5 times a lot more than the prior year, including a $627 million cope with GSK.
The company said it had been in a position to achieve growth by responding quickly to the regulatory requirements of global agencies amid the coronavirus pandemic.
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