Samsung Biologics (207940.KS)

Executive Summary

Samsung Biologics has solidified its position as the world’s largest contract development and manufacturing organization (CDMO) by capacity, leveraging state-of-the-art facilities in Incheon, South Korea, and the financial backing of the Samsung Group. The company reported record revenues in 2025, driven by strong demand for biologics manufacturing and a diversified client base spanning top-tier pharmaceutical and biotech firms. With the completion of Plant 4 in 2025, total capacity reached 784,000 liters, positioning Samsung to capture additional market share as the industry continues to outsource production. The company has also made strategic investments in advanced modalities such as antibody-drug conjugates (ADCs) and mRNA, broadening its service offerings and future growth potential.

Upcoming Catalysts (preview)

• Q4 2026Completion and Ramp-Up of Plant 5 (Bio Campus II)90% success
• Q3 2026Major Long-Term Manufacturing Agreement with a Top-20 Pharma75% success
• Q2 2026FDA Approval of Client’s Biosimilar (e.g., SB17 or SB27) Driving Follow-On Orders60% success