Samsung BioLogics presents its business vision at JPM Healthcare Conference
Incheon, South Korea, January 10th, Samsung BioLogics announced today that the company presents its business vision and goal for 2019 to global investors at JP Morgan Healthcare Conference in San Francisco.
Tae Han Kim, the president and CEO of Samsung BioLogics, shared its business status and vision with investors under the title of ‘Innovation and Growth of Samsung in Biologics Industry’.
Kim said “Samsung BioLogics not only became the largest CMO in the world in terms of capacity, but also shortened the construction and operation time by nearly 40 percent compared to its competitors. Through theae competitiveness, we led the paradigm shift of CMO industry in only seven years since the establishment.”
He added “Samsung BioLogics has successfully expanded the value chain in the biopharmaceutical industry by adding CDO/CRO businesses that provide cell line development, clinical material production, and QC testing service.”
As of January 2019, Samsung BioLogics has received a total of 41 orders, including 27 CMO orders and 14 CDO/CRO projects. Samsung BioLogics is currently negotiating orders with more than 20 companies and targeting for more than 10 additional CDO/CRO orders by the end of 2019.
Tae Han Kim also announced that "Samsung BioLogics plans to raise orders for the Plant No. 3 that has secured 25 percent of the total production to 50 percent by the end of the year. He said “The single antibody biopharmaceutical market is expected to grow at a rapid rate of 12 percent annually since 2018, and thus we expect the demand for CMO to grow rapidly as well. We will maximize client satisfaction through constant innovation.”
Meanwhile, Samsung BioLogics explained the current status of IFRS accounting issue and the forecasts to global investors.
Samsung BioLogics emphasized that the company has made all of its accounting procedures legitimately in accordance with IFRS accounting standards and the legitimacy has also been recognized through a number of global accounting firms and the Korean Institute of Certified Public Accountants.