[Seungkwon Kim, Edaily Reporter] Samsung Biologics reported record-breaking earnings for the first quarter of 2025, driven by increased operations at its fourth plant and favorable foreign exchange rates.
The South Korean contract drug manufacturer posted consolidated revenue of KRW 1.2983 trillion and an operating profit of KRW 486.7 billion for the quarter. Revenue surged 37.1% year over year, while operating profit more than doubled, rising 119.9%.
On a standalone basis, Samsung Biologics recorded KRW 999.5 billion in revenue and KRW 430.1 billion in operating profit. Its biosimilar subsidiary Samsung Bioepis contributed KRW 400.6 billion in revenue and KRW 128 billion in operating profit.
The expansion of the company’s fourth manufacturing facility, which began operations in 2023, played a key role in boosting earnings. In addition, Samsung Biologics began production at its new antibody-drug conjugate (ADC) plant this quarter, further contributing to growth.
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A favorable exchange rate also helped lift earnings, as more than 90% of the company’s sales come from overseas markets. With the majority of its customers paying in U.S. dollars, the company benefited from significant foreign exchange gains.
Samsung Bioepis also saw strong momentum, particularly in Europe and the United States. Its biosimilars for autoimmune disease drug Enbrel (SB4) and Stelara (SB17) performed well in Europe, while new product launches in the U.S. drove meaningful improvement. The company now holds marketing approvals for 11 biosimilars across multiple regions: eight in Europe, six in the U.S., and nine in South Korea.
Samsung Biologics is expected to maintain its growth trajectory in the second quarter. Despite global uncertainties such as proposed tariffs under U.S. President Donald Trump, analysts suggest the company may benefit from the Biden administration’s push to lower drug prices and increased scrutiny of Chinese biotech firms.
Earlier this month, Samsung Biologics commenced operations at its fifth plant, raising total production capacity to 784,000 liters. The company aims to add three more facilities by 2032, targeting a total capacity of 1.324 million liters.
A record KRW 2 trillion contract signed in January is also set to begin contributing to revenue in the second quarter, further supporting top-line growth. In addition, new biosimilars recently launched by Samsung Bioepis such as its Stelara biosimilar “Pyzchiva” and Soliris biosimilar “Epysqli”are gaining traction in the market.
Analysts forecast that Samsung Biologics will generate over KRW 1.4 trillion in Q2 revenue and KRW 380 billion in operating profit, potentially setting a new quarterly record. The company is projected to surpass KRW 5 trillion in annual sales for the first time in its history.
