bullish
Samsung Biologics (207940 KS): Strong 2Q24 Result; Annual Revenue to Surpass KRW4 Trillion
Tina has highlighted this Insight as a Top Pick
239 Views25 Jul 2024 09:30
SUMMARY
- In 2Q24, Samsung Biologics (207940 KS) reported 34% YoY revenue growth to KRW1,157B, driven by full utilization of Plants 1–3, ramp-up of Plant 4, milestone payment, and favorable Fx.
- The company expects annual revenue to exceed KRW4T mark this year, thereby setting a record for the Korean pharmaceutical and biotechnology sector.
- During 1H24, Samsung Biologics has secured order worth of KRW2.6T. Currently, the company is serving 16 out of the top 20 global pharmaceutical companies, up from 14 last year.
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Rising
Tina Banerjee
Global Healthcare Analyst
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