Samsung Biologics also reported an operating profit of KRW 171.9bn, 3.18% higher than the prior-year period, and a net profit of KRW 101.8bn with an operating profit margin of 34.1% for the same quarter. On a standalone basis, the second quarter 2022 revenue for Samsung Biologics was KRW 503.7bn, an increase of 22.2% from KRW 412.2bn reported for the second quarter in the previous year, due to efficiency in operations despite a scheduled slow-down of Plant 2, and attributable to the expansion of product sales.
Reporting under the consolidated approach for the first time since the acquisition in April, Samsung Biologics and Samsung Bioepis in the second fiscal quarter recorded a revenue of KRW 651.4bn, operating profit of KRW 169.7bn, and net profit of KRW 152bn with EBITDA margin of 39.7%. "With four biosimilar candidates in late stage development, Samsung Bioepis is solidifying its position as a leading company in the biosimilars industry," says Samsung Biologics. The company recently launched SB11, a biosimilar to Lucentis (ranibizumab), in June 2022 in the US. SB4, a biosimilar to Enbrel (etanercept), which was launched in Europe in 2016, has surpassed its originator’s sales in Europe.
Samsung Bioepis has 6 biosimilar products approved and commercially available in different markets, and notes that revenue has steadily grown driven by increases in global product sales and milestone payments.