April 19, 2024

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[THE INVESTOR] Samsung BioLogics posted an operating income last year, shifting from a loss a year earlier, the company said on Jan. 31.

The total reached 63 billion won (US$60 million) in 2017, compared to a 30.4 billion won loss reported a year earlier, the company said in a regulatory filing.

Sales also jumped 56.1 percent on-year to 459.8 billion won for the whole of last year, the company said.

Samsung BioLogics currently manufactures products for world-famous pharmaceutical brands such as US-based Bristol-Myers Squibb and Switzerland-based Roche Holding. The company is at the forefront of Samsung Group‘s quest for new growth engines.

Samsung BioLogics is 43.44 percent owned by Samsung Group’s de facto holding company, Samsung C&T, and 31.49 percent controlled by Samsung Electronics, the world’s largest smartphone and memory chip manufacturer.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)