Samsung Bioepis said April 23 that it posted first-quarter revenue of 454.9 billion won and operating profit of 144.0 billion won. Revenue rose 14% from a year earlier and operating profit increased 13%.
The company said the results meet its early-year sales guidance calling for growth of more than 10% from the previous year. It cited expanded global biosimilar sales and a broader new-product portfolio as key drivers.
Samsung Bioepis said sales were supported by existing products including SB4, an Enbrel biosimilar marking its 10th year on the European market, as well as the impact of new product launches in the United States.
In Europe, the company directly sells four products. For SB15, an Eylea biosimilar, it said it has been discussing potential launch timing with the originator developer, targeting Europe this month and the United States in January next year.
In the United States, Samsung Bioepis said it signed a private-label supply agreement in October last year with CVS Caremark, one of the country’s three major pharmacy benefit managers, for SB16, a Prolia biosimilar, and launched it on the market.
The company is also pursuing new-drug development. It recently began a global Phase 1 clinical trial of an antibody-drug conjugate candidate, and said additional pipelines being co-developed with China’s Frontline are in the preclinical stage.
Separately, Samsung Epis Holdings reported consolidated revenue of 453.9 billion won and operating profit of 90.5 billion won. It returned to an operating profit in the first quarter after reporting consolidated revenue of 251.7 billion won and an operating loss of 63.6 billion won in November and December last year. The company said noncash accounting consolidation adjustments, including amortization of purchase price allocation development costs, were reflected in the results.
* This article has been translated by AI.
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