1 of 2 | South Korean biopharmaceutical contract manufacturer Samsung Biologics posted a stellar performance in the first half of this year. Photo courtesy of Samsung Biologics
SEOUL, July 24 (UPI) -- The South Korean economy struggles as the country's gross domestic product growth rate is feared to more than halve to less than 1% this year, compared to 2% for 2024.
However, its defense and shipbuilding industries are faring well. Also among the high achievers are biopharmaceutical contract manufacturers, including Samsung Biologics and Celltrion.
Samsung Biologics, one of the world's largest contract development and manufacturing organizations, or CDMOs, announced Wednesday that it posted record-high $1.88 billion in sales during the first six months of 2025, up 21.3% from a year earlier. Its operating profit amounted to $700 million, up 46.75%.
The company also said that it has signed contracts worth $2.4 billion in the first half of the year, which is more than 60% of its total annual order volume for 2024.
