January 24, 2022
![Samsung Bio buoyed by COVID, citing mRNA and mAbs as drivers Samsung Bio buoyed by COVID, citing mRNA and mAbs as drivers](https://eu-images.contentstack.com/v3/assets/blt0a48a1f3edca9eb0/blt817878948137dcc4/658ae506d0c7fe040aef3539/ISS_35227_00427.jpg?width=1280&auto=webp&quality=95&format=jpg&disable=upscale)
Samsung Biologics says COVID-19 related demand drove growth in 2021 and predicts mRNA business will be key this year.
The Korean contract development and manufacturing organization (CDMO) saw revenue of KRW444.3 billion ($328 million) in the fourth quarter of 2021, up 18% on the comparable period in 2020.
Profits increase 39% to KRW128.8 billion. For the full year revenue and operating profit grew 35% and 84%, respectively.
Image: Stock Photo Secrets
Samsung also said its fourth quarter operating margin jumped 29% due to increased utilization across all manufacturing plants as well as an improved product mix.
CEO John Rim cited the pandemic and related demand for contract manufacturing services as a major growth driver.
“With a steep increase in demand for medicines due to the prolonged COVID-19 pandemic, there was a great need for CDMO capabilities around the world to ensure a reliable supply of high-quality biological products.”
Forecast
Looking forward, Samsung said it had created a strong foundation for its mRNA business foundation.
The CDMO cited its strategic partnership agreements with Moderna – which covers fill and finish – and Greenlight Biosciences – for the manufacturing of mRNA vaccines – as examples.
Samsung also predicted its recently launched monoclonal antibody development offering – based on a technology called S-Cellerate – would also drive growth in 2022.
Expansion
The CDMO also said construction of its fourth plant – plans for which were announced in 2020 – is six months ahead of schedule and predicted that manufacturing operations would begin before the end of the year.
In addition, it reiterated plans for a fifth