Samsung Biologics shares fly high to rank Korea’s third most valuable stock

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Samsung Biologics shares fly high to rank Korea’s third most valuable stock - Korea Economic Daily

Quick Summary:

RECORD-HIGH EARNINGSLast month, Samsung Biologics said it posted its largest-ever annual sales and operating profit, driven by a steady stream of profitable drug-making contracts for pharmaceutical firms.The company posted 1.32 trillion won in operating profit on consolidated sales of 4.55 trillion won in 2024 – the first Korean biopharma to break above the 4 trillion won sales threshold.

Samsung Biologics Co., the world’s largest contract drugmaker, has become South Korea’s third most valuable stock on the country’s main bourse, buoyed by strong sales growth and the expected windfall gains from the Trump administration’s push for biotechnology to keep China in check.

Seoul-based Sangsangin Investment and Securities recently raised its target price for Samsung Biologics to 1,310,000 won from 1,260,000 won, citing a clear upward trend in the company's contract volume and research pipeline expansion.“Its revenue and operating profit are set to grow further this year,” said the brokerage in a research note.