Despite CDMO headwinds, Samsung Bio reports 2023 revenue jump and predicts even more gains this year

Sam­sung Bi­o­log­ics said on Wednes­day that it de­liv­ered “ex­cep­tion­al” rev­enue growth in 2023 and pre­dicts an in­crease this year, which coun­ters mut­ed re­ports by oth­er CD­MOs due to last year’s biotech fund­ing slump.

The Ko­re­an CD­MO said it gen­er­at­ed a rev­enue of KRW 3.69 tril­lion ($2.8 bil­lion) in 2023, re­flect­ing a 23.1% in­crease from the pre­vi­ous year. It gen­er­at­ed KRW 1.07 tril­lion ($804.4 mil­lion) in rev­enue in the fourth quar­ter of last year, mark­ing an 11.2% growth from KRW 965.5 bil­lion ($725.9 mil­lion) re­port­ed in the same pe­ri­od in 2022.

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