bullish
Samsung Biologics (207940 KS): Mixed 1Q24 Result; Order Book Swells; New Drug Approval in Europe
346 Views24 Apr 2024 22:40
SUMMARY
- Samsung Biologics (207940 KS) reported mixed 1Q24 result, with revenue beating and operating profit missing estimates. Despite robust revenue growth, profitability is under pressure.
- With accumulated orders exceeding $12.5B (vs $12B at the end of 2023), the outlook remains strong. A gradual increase in Plant 4 operations is expected to drive sequential revenue growth.
- On April 23, Samsung Bioepis received marketing approval from European Commission (EC) for Pyzchiva, a biosimilar of Stelara, thereby becoming an early mover in a potential €2.5B market.
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Tina Banerjee
Global Healthcare Analyst
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