Samsung Biologics 2023 | Year in Review | Samsung Biologics | The Leading Global CDMO with End-to-End Services

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Samsung Biologics 2023 | Year in Review

Registered December 28, 2023 | Modified July 12, 2024
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2023 was another eventful year for Samsung Biologics on its mission to create a better world and to support clients and the patients they serve with high quality biomedicines. Here’s a recap of the key highlights of the past year, and how we were able to positively shape the bio industry landscape.

Future of Biopharma

Samsung Biologics announced further expansion of its biomanufacturing capacity, breaking ground on a fifth plant – the first facility of the company’s second Bio Campus. Bio Campus II will house Plants 5 through 8, for a total of 720,000 liters. Upon completion, expected in 2032, Samsung Biologics will boast over 1.3 million liters’ capacity, together with Plants 1 to 4 in Bio Campus I. This year also saw the completion of the company’s largest single manufacturing facility, Plant 4, which holds 240,000 liters’ capacity.

Building a Sustainable Future from the Ground Up

Increased Global Presence

Samsung Biologics opened a regional office in New Jersey to streamline communication and enable the company to work in closer proximity to clients based in the U.S. and Europe, along with existing offices in San Francisco and Boston. The geographical expansion reflects Samsung Biologics’ commitment to anticipate and meet the needs of our clients, wherever they are located.

CDMO Partner of Choice

Samsung Biologics had a busy year, expanding manufacturing pacts with multiple pharma giants, including Pfizer and Bristol-Myers Squibb. Samsung Biologics will produce biosimilar treatments in a range of therapeutic areas for Pfizer and manufacture a commercial antibody treatment for Bristol-Myers Squibb. Samsung Biologics has secured 14 of the top 20 global pharmaceutical companies as clients.

Samsung Biologics announces expanded strategic agreement with Bristol Myers Squibb to manufacture antibody cancer drug substance

Scaling Up Quality and Flexibility with Trusted Partnership

Strong Financial Standing

Buoyed by the near full utilization of all plants and increased partnerships with global biopharma, Samsung Biologics saw a year of record growth, posting consolidated revenue of over 1 trillion won in the third quarter. Among the new and expanded contracts this year, eight large-scale contracts were worth more than 100 billion won. Samsung Biologics expects the 2023 revenue to reach 3.6 trillion won, for an on-year increase of over 20 percent.

Samsung Biologics Reports Second Quarter 2023 Financial Results

Samsung Biologics Reports Third Quarter 2023 Financial Results

Investing in the Future

Samsung Biologics continued to make investments in promising biotech companies through the Samsung Life Science Fund, as part of efforts to foster next-generation technologies. As the company is currently building its own antibody-drug conjugate (ADC) facility, Samsung Biologics made investments in Araris Biotech and Aimed Bio, both pioneering ADC-related technology.

Samsung Biologics joins strategic investment in and pursues a research collaboration with AimedBio to foster next-generation biotechnologies

Bolstering CDO Capabilities

Building on a proven track record of success as a CDMO provider, Samsung Biologics optimized development services incorporating innovative processes and advanced proprietary platforms to accommodate clients’ evolving needs – supporting their journey from gene to investigational new drug and/or beyond. The company has packaged its drug development services into three programs – each designed to ensure maximum flexibility and meet the client’s goals per their development stage, while assessing potential risks.

Enhancing quality by employing cell line replacement and process optimization

Forging a trusted partnership in end-to-end drug development

Building a transformative partnership in drug development

Industry Trend-Setter

Samsung Biologics attended a series of global conferences and exhibitions this year, including BIO International, CPHI, DCAT, and J.P. Morgan Healthcare Conference. The company demonstrated how its services can accelerate clients’ drug journey and maximize the potential of their molecule. Samsung Biologics also consolidated its presence as a sustainable partner with an eco-friendly booth. The company also actively used the events to engage with existing and potential clients for future development and manufacturing pacts.

Samsung Biologics continues to expand for sustainable future | Highlights from J.P. Morgan Healthcare Conference 2023

Prioritizing Sustainable Leadership

Samsung Biologics was awarded the Sustainable Markets Initiative’s Terra Carta Seal, becoming the first CDMO and the first Korean company to receive the Seal. The Terra Carta Seal, launched at the COP26, recognizes global companies that are driving innovation and demonstrating their commitment to, and momentum towards, the creation of genuinely sustainable markets. It is awarded to companies whose ambitions are aligned with those of the Terra Carta, a recovery plan for Nature, People and Planet.

Global healthcare leaders advance sector decarbonisation ahead of COP28

Advancing Global Decarbonization Targets

Samsung Biologics believes the road to a net-zero supply chain starts from a grassroots engagement with its domestic partners. Samsung Biologics held its inaugural Supplier ESG Day at its headquarters to share ESG knowledge and guidance on decarbonization with its local suppliers. At the event, experts provided insights on ESG governance, while representatives from global suppliers presented case studies and tangible methods that local suppliers could apply to their operations.

Shaping a sustainable supply network for net-zero health systems

Open letter on supplier targets from members of the Sustainable Markets Initiative

Increased Global Recognition

At the CDMO Leadership Awards 2023, Samsung Biologics received the Champion Award in four categories – capabilities, compatibility, reliability, and quality - and the Excellence Award in all six categories. Samsung Biologics has won the awards for ten consecutive years. The award offers accurate customer feedback to provide support in choosing a reputable partner for development and manufacturing. Samsung Biologics was also recognized by Newsweek as one of the ‘World’s Most Trustworthy Companies’ for 2023.

Samsung Biologics recognized by Newsweek as one of the 'World's Most Trustworthy Companies for 2023'