During a recent announcement that Samsung Biologics had added an mRNA substance manufacturing suite to their portfolio, John Rim, CEO of Samsung Biologics —a leading CDMO in the biopharmaceutical space— had this to say:
“We are constantly assessing various ways that we can expand and persify our current CDMO business portfolio to better serve the market,” said John Rim, CEO of Samsung Biologics. “We are committed to helping our clients provide quality treatments and vaccines to all those in need around the world, especially in difficult times like this.”
Samsung Biologics is a leader in the world of contract manufacturing organizations, but over the course of 2020 and the 2021, they have reached the next level as a company that other organizations look to as a source of inspiration thanks to their emphasis on meaningful causes and business success.
Battling COVID-19 Worldwide
In its efforts to bring an end to the pandemic, the leading global CDMO entered into an agreement with Moderna to provide large-scale, commercial fill-finish manufacturing for mRNA-1273, the COVID-19 vaccine. Aseptic fill-finish, labeling, and packaging services will be given to hundreds of millions of Moderna doses to be distributed to markets outside of the US.
New mRNA Vaccine Site Expansion Project
Responding to the increasing demand due to its efficacy, mRNA technologies have been the solution of choice for biotech companies looking to target infectious diseases. . The company is currently adding an mRNA drug substance (DS) manufacturing capability to their facility, which will be ready for cGMP operations within the first half of 2022.
Strong Q2 Performance with Earnings Growth
Financially, Samsung Biologics continued to maintain strong, stable business operations at the end of the second quarter.
Q2 revenue of KRW 412.2 billion increased 34% compared to Q2 2020.
Q2 operating profit of KRW 166.8 billion increased 105.7% compared to Q2 2020.
All manufacturing facilities remain fully operational, without any disruptions caused by the COVID-19 pandemic.
Continuous investments to deliver the company’s future growth plans
Construction for the new Plant 4 stays on track with active pre-sales forecasts.
John Rim, CEO of Samsung Biologics, had this to say:
“The second-quarter financial performance demonstrates our ability to maintain steady operations despite the global supply disruptions brought on by the pandemic and our commitment to deliver life-saving treatments to patients at an expedited timeline. Recently, we announced our expansion plans in mRNA vaccine manufacturing, in line with our three-dimensional growth plans laid out earlier on in the year. Construction and presales of our Plant 4 are on track, and we will take on new initiatives as we continue our strong momentum across our business portfolio and growth plans.”