Samsung Bio buoyed by COVID, citing mRNA and mAbs as drivers

Samsung Biologics says COVID-19 related demand drove growth in 2021 and predicts mRNA business will be key this year. 

The Korean contract development and manufacturing organization (CDMO) saw revenue of KRW444.3 billion ($328 million) in the fourth quarter of 2021, up 18% on the comparable period in 2020.  

Profits increase 39% to KRW128.8 billion. For the full year revenue and operating profit grew 35% and 84%, respectively. 

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Samsung also said its fourth quarter operating margin jumped 29% due to increased utilization across all manufacturing plants as well as an improved product mix. 

CEO John Rim cited the pandemic and related demand for contract manufacturing services as a major growth driver. 

“With a steep increase in demand for medicines due to the prolonged COVID-19 pandemic, there was a great need for CDMO capabilities around the world to ensure a reliable supply of high-quality biological products.‚Ä̬†

Forecast 

Looking forward, Samsung said it had created a strong foundation for its mRNA business foundation.  

The CDMO cited its strategic partnership agreements with¬†Moderna¬†‚Äď which covers fill and finish¬†‚Ästand¬†Greenlight Biosciences¬†‚Ästfor the manufacturing of mRNA vaccines ‚Äď as examples.¬†

Samsung¬†also predicted its recently launched monoclonal antibody development offering ‚Äď based on a technology called¬†S-Cellerate¬†‚Äď would also drive growth in 2022.¬†

Expansion 

The CDMO also¬†said¬†construction of its fourth plant ‚Äď plans for which were announced in¬†2020¬†‚Äď is¬†six months ahead of schedule and predicted that manufacturing operations would begin before the end of the year.¬†

In addition, it reiterated plans for a fifth manufacturing facility. It said that the plant will house capacity for the production of cell and gene therapies and next-generation vaccines utilizing mRNA, pDNA and viral vectors. 

Samsung also announced plans for an open innovation¬†center¬†at its base in Songdo, South Korea and said it intends to further expand ‚Äúits global footprint beyond its San Francisco R&D¬†center.‚Ä̬†

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