Samsung’s subsidiary company, Samsung Biologics has seen an increase in its stock price as it recently secured a major contract manufacturing deal of 73 million USD.
Which was evidently seen when SK securities adjusted Samsung BioLogics’ stock price from 340 USD to 400 USD.
Analyst Lee Dal Mi said that Samsung Biologics’ operating profit for this year will be a whopping 25 million USD. This is due to the market increase that Samsung has recently experienced.
Samsung BioLogics’ last major deal of over 42 million USD involving a US pharmaceutical company, has helped increase the company’s total ending revenue for 2018.
Samsung BioLogics has also secured a deal worth of 19 million USD from an Asian company, two weeks prior. This is besides the other local deals that it secured from companies such as UCB, CytoDyn, Ichnos Sciences, GI Innovation, Eutilex, and ImmuneOncia Therapeutics.
The analyst also added if Samsung Biologics’ US partner Biogen closes the deal of the Aducanumab drug for Alzheimer’s disease, they would be able to maintain their current stock prices.
The company has guaranteed that enhancements to their processes and services will be added as they grow in the marketplace.