三星生物製藥207940.KS
關於三星生物製藥
三星生物製藥(Samsung Biologics)是一家合約開發暨製造組織(CDMO),在仁川松島地區的大型廠房中代全球製藥公司生產生物藥品。公司擁有全球規模最龐大的生物製藥產能之一,並透過涵蓋抗體類藥物及相關服務的長期生產合約創造營收。旗下亦持有生物相似藥開發商三星Bioepis,後者銷售專利到期生物藥品的低價替代版本。三星物產(Samsung C&T)與三星電子(Samsung Electronics)為主要股東,使公司歸屬於三星集團旗下,而產能擴張一直是其成長策略的核心驅動力。
外資股東將公司視為產能成長題材:跨國藥廠的合約訂單橫跨多年,提供了營收能見度,但同時也使業務集中於數量有限的大型製藥客戶。美國擬議中針對中國生技合約商的立法動向,被視為非中國籍CDMO潛在的結構性利多。三星物產持有控制性持股,使市場流通籌碼相對稀少,令股價表現與三星集團整體股權結構緊密相連。公司股息支付甚少,傾向將現金再投入新廠建設,因此投資報酬率取決於歷次擴產計畫的執行力,以及三星Bioepis在生物相似藥領域的進展。
三星生物製藥成立於2011年,是三星集團進軍生物製藥領域的戰略部署,亦是集團領導層主導推動、刻意跨出電子業框架的多角化佈局。公司在仁川松島自由經濟區建立第一座廠房,隨後陸續增設規模更大的設施,並於2016年在韓國交易所掛牌上市。旗下生物相似藥開發部門三星Bioepis成立於2012年,初為與美國生技公司渤健(Biogen)的合資事業,2022年三星生物製藥購入渤健持股後,成為全資子公司。公司曾就該合資事業的估值方式與韓國監管機構爆發備受矚目的會計爭議,此事件深刻影響了當地的公司治理討論。
合約製造收入建立在預留產能的基礎之上:製藥客戶在生產啟動前往往提前數年簽署長期最低用量協議,從而將廠房建設轉化為合約訂單積壓量。額外收入來自開發服務,公司協助客戶將分子從細胞株推進至商業化生產流程,藉此深化客戶關係,進而填滿後續的生產產線。規模是核心競爭利器,更大的生物反應槽產能可攤低單位成本,並使公司得以承接規模較小競爭對手難以消化的大型商業計畫,直接競爭對手包括朗沙(Lonza)、Catalent及中國的藥明生物(WuXi Biologics)。幾乎所有客戶均為外國藥廠,因此合約以美元計價,業務以出口為導向。
公司簡介由LineVest編輯部撰寫。屬新聞報導,非投資建議。 委託撰寫三星生物製藥的SEC完整報告 →
三星生物製藥相關報導
17篇文章
三星生物製藥2026年第二季:營收飆升30%至1.32兆韓元,上半年利益突破1.17兆韓元
三星生物製藥公布2026年第二季營收1兆3,209億韓元(年增30.2%),營業利益5,864億韓元(年增22.9%),符合市場共識預期。上半年累計營收達2兆5,780億韓元,全年成長軌跡指向15%至20%年度指引區間上緣。

Samsung Biologics Bets $2.0 Billion on Swiss Peptide Maker PolyPeptide to Enter the GLP-1 Supply Chain
Samsung Biologics (207940.KS), the Songdo-based contract drug manufacturer within Korea's Samsung group, has agreed to acquire 100% of PolyPeptide Group AG, a Swiss-headquartered contract developer and manufacturer of therapeutic peptides, in the largest M&A ever struck by a Korean pharmaceutical or...

Korea Claims No. 2 FDA Biosimilar Slot as Samsung Biologics' $280M U.S. Plant Anchors Next Growth Phase
Korea holds 19 FDA biosimilar approvals (No. 2 globally). Samsung Biologics completes $280M GSK Rockville acquisition, raising total CDMO capacity to 845,000L. H1 2026 saw 6 new approvals vs 18 in 2025.

Samsung Biologics (207940.KS) Union Quits Group Coalition

Samsung Biologics Unveils Four Drug Delivery Platforms at BIO USA 2026, Targeting Technology Licensing as New Revenue Pillar
Samsung Biologics presented four proprietary drug delivery platforms at BIO USA 2026, signaling a push into technology licensing to diversify revenue beyond contract manufacturing.

Samsung Biologics CEO Reaffirms 15-20% Growth Target at BIO USA 2026, Advances Rockville Ramp and Netherlands Hub
Samsung Biologics CEO John Rim unveiled a three-pillar global expansion at BIO USA 2026: Rockville integration (USD 280M, 60,000L), Netherlands hub (Q3 2026), and Songdo Plant 6 decision by year-end, targeting 1.3 million liters by 2032.

Samsung Biologics Secures KRW 149.1 Billion in CMO Add-Ons as Union Plans Independence Vote
Samsung Biologics disclosed two DART-filed CMO contract expansions totaling KRW 149.1 billion in June 2026, lifting its cumulative backlog to ~USD 10.4 billion, even as the labor union prepares a vote to exit Samsung Group's conglomerate union.

Samsung Biologics Returns to BIO USA for 14th Straight Year, Backed by Record Revenue and a $21 Billion Order Book
Samsung Biologics (207940.KS), the Songdo-based contract drug manufacturer that ranks as the world's largest biopharmaceutical producer by installed c

K-Biotech's Animal-Free Pivot: Samsung Biologics and Peers Race to Meet New FDA and EU Drug Rules
The EU and FDA are converging on a phaseout of animal testing in drug development, creating a new competitive arena where Samsung Biologics and a cohort of Korean biotech firms are building organoid and AI capabilities to stay ahead.

Samsung Biologics (207940.KS) Backs ₩200B Third Bio Fund

Samsung Electronics' ₩600M Bonus Resets the Math for Samsung Biologics Strike Talks
The tentative wage deal that pulled Samsung Electronics — Korea's largest chipmaker — back from an 18-day general strike has handed the still-striking union at Samsung Biologics — Korea's largest cont

Samsung Biologics Wage Impasse Lingers After Electronics' 12% Profit-Share Reset
Samsung Biologics (KRX: 207940), Korea's largest contract drug manufacturer (CDMO), has not yet matched the wage settlement its memory-chip affiliate concluded

Samsung Biologics Pegs Strike Damage at ₩150 Billion ($102 Million) as Labor Unrest Spreads to Kakao

Samsung Biologics Files Criminal Complaint Against Striking Union Chair Over Leaked PR Records
Samsung Biologics (207940.KS) filed a criminal complaint against union chair Park Jae-sung for leaking PR-department tax invoice records and defamation, per Yonha...

Samsung Biologics (207940.KS) Files Criminal Complaint on Strike
Samsung Biologics filed a criminal complaint against six union members, including the branch chair, alleging obstruction during last week's first-ever strike.
Samsung Biologics' First-Ever Strike Halts Cancer-Drug Output, Company Cites ₩150 Billion Loss

Samsung Biologics Partial Strike Extends Into Day Three; Full Walkout Set for May 1
常見問題
三星生物製藥的業務是什麼?
三星生物製藥在韓國仁川運營全球規模最大的生物製藥廠房之一,以合約形式代全球製藥公司生產生物藥品。公司亦提供藥物開發服務,並持有三星Bioepis,後者專注開發生物相似藥,即在全球主要市場銷售的專利到期生物藥品低價替代版本。
誰控制三星生物製藥?
三星物產為最大股東,三星電子亦持有相當規模的持股,使公司穩固歸屬於三星集團及創辦人李氏家族的控制範疇。市場流通股份比例相對偏低,其餘股份由國內外機構投資者及散戶持有。
外國投資者如何佈局三星生物製藥?
該股在韓國交易所掛牌交易,股票代碼為207940。公司未發行海外存託憑證,因此直接持股須透過具備韓國市場准入資格的券商進行。間接投資管道包括以韓國為主題的ETF、部分全球醫療保健基金,亦可透過持有母公司三星物產的股份取得部分曝險。
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