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Samsung BioLogics posts $112 million in Q3 sales
  • By Marian Chu
  • Published 2017.10.25 17:34
  • Updated 2017.10.25 17:34
  • comments 0

Samsung BioLogics (CEO: Kim Tae-han) Wednesday posted the sales of 127.5 billion won ($112.9 million) and operating profit of 20.5 billion won ($18.1 million) for the third quarter.

The contract manufacturing organization (CMO) service provider for the global biopharmaceutical industry showed improved performance in the third quarter with sales rising by 64.3 billion won and operating profit by 29 billion won. The improved bottom line was thanks to increased capacity utilization rates in its two plants, the company said.

Source: Samsung BioLogics

Net income fell 9.6 billion won from the second quarter due to call option valuation losses on subsidiaries, it said.

The company said it would finish the construction of its third factory by the end of this year, which will be larger than the previous two, and will increase production flexibility for use by other biopharmaceuticals, too.

yjc@docdocdoc.co.kr

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