Samsung Biologics, a leading manufacturing and laboratory testing services, has announced its Q1 Earning Results on Monday. According to the details released by the PR News Wire News Agency, the company earned 62.6 Billion Korean Won and its consolidated sales surge to 207.2 Billion Korean Won.
Nevertheless, the company has announced the stable financial performance from further utilization due to increased market demands. The company has announced that it will continue its activities regarding the client audit, inspection and business development through diligence and innovative live virtual tours. Samsung Biologics has signed up to 10 new projects with global and local clients.
According to the PR News Wire News Agency, the company has further announced that is operating profit and quarter on quarter sales affected due to the higher prices of batch than the previous quarter. Furthermore, the net income of the company further decreased from the previous quarter due to unrealized losses of inventory and expired tax impact, which results in the loss of the parent accounting system.
The company has offered strict guidelines for its employees to ensure their health and safety. The company is operating under its business continuity plan to effectively respond to the Covid-19 pandemic and to ensure the operations for sustainable services to the clients. The company’s effective and strict Covid-19 guidelines have proved quite successful so far with zero confirmed Covid-19 cases among its employees.
About the Samsung Biologics Company:
Samsung Biologics is a fully-integrated and cutting-edge development, manufacturing and laboratory testing services. The company has got the flawless regulatory approvals record and fastest output, the company is able to support the manufacturing and development of biologics products at every stage of the process and it works in fully compliance with the basic needs of the pharmaceutical companies across the globe.