[Shareholders Meeting] Samsung Biologics "We Will Expand Bases to Europe and China"

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John Rim, CEO of Samsung Biologics, is speaking at the regular shareholders' meeting held on the morning of the 19th at the Global Campus Auditorium in Yeonsu-gu, Incheon. (Provided by Samsung Biologics)

[Asia Economy Reporter Lee Chun-hee] "We will expand the operational bases of our Contract Manufacturing Organization (CMO) and Contract Development Organization (CDO) businesses from San Francisco, USA, to major overseas regions such as Europe and China." (John Rim, CEO of Samsung Biologics)

John Rim, CEO of Samsung Biologics, stated at the regular shareholders' meeting held on the morning of the 19th at the Global Campus auditorium in Yeonsu-gu, Incheon, "Samsung Biologics, celebrating its 10th anniversary this year, is preparing to make a full-fledged leap toward becoming a global integrated bio company in 2021."

He emphasized, "In terms of production capacity, we will expedite the establishment of the Songdo 2nd Bio Campus and promote continuous factory expansion along with open innovation and the establishment of research institutes. We will further strengthen our position as the world's largest CMO and enhance our capabilities in next-generation core technologies." He added, "We will also expand the current contract development and manufacturing organization (CDMO) business, which mainly focuses on antibody drugs, to new drug sectors such as cell and gene therapies and vaccines to secure growth engines for our future vision."

CEO Rim explained, "Last year, Samsung Biologics exceeded its production targets," adding, "As a result, we surpassed annual sales of 1 trillion KRW for the first time since our founding." Samsung Biologics' sales last year amounted to 1.1648 trillion KRW, a 66% increase from the previous year, and operating profit rose 219% to 292.8 billion KRW. He also noted, "The CDO business successfully launched its own cell line in August last year, and in October, we established our first research and development (R&D) corporation in San Francisco, USA."

Samsung Biologics' regular shareholders' meeting is being held on the morning of the 19th at the Global Campus Auditorium in Yeonsu-gu, Incheon. (Photo by Lee Chunhee)

At this year’s shareholders' meeting, Samsung Biologics introduced online live streaming exclusively for shareholders who applied in advance and conducted voting rights exercises using an electronic voting system for the first time. As a result, a total of 1,714 shareholders participated through direct attendance, proxy attendance, and electronic voting, with the number of shares represented reaching 58,696,075, accounting for 88.7% of all voting shares.

This content was produced with the assistance of AI translation services.