Samsung Biologics CEO to attend JPMorgan conference

Samsung Biologics CEO John Rim speaks at JPMorgan Healthcare Conference 2023. (Samsung Biologics)

Samsung Biologics CEO John Rim is heading to San Francisco next month to share the company’s mid-term business plans during the JPMorgan Healthcare Conference, the company said Tuesday.

The JPMorgan conference, one of the largest investment events for pharmaceutical and biotechnology industries that marks its 42nd year in 2024, will be held in the US city on Jan. 8-11. Some 600 companies and 8,000 industry officials and investors are expected to attend this year’s event.

This year, Samsung Biologics, the world’s largest contract drug manufacturer, will hold its presentation on the second day of the conference, a day earlier than the previous year.

“The JPMorgan conference normally decides the order of main track presentations of participating companies based on their positions in the market. The fact that the company’s presentation date has been moved up shows its improved status,” a Samsung Biologics official said.

Samsung Biologics has continued its winning streak in sales. In the third quarter this year, the company’s quarterly sales exceeded 1 trillion won ($771.5 million) for the first time. The company raised its full-year earnings guidance to 3.6 trillion won, up some 20 percent from last year.

The CEO is expected to give a presentation on the company’s recent achievements and business plans for the future during the conference. Among the key agenda items is the company’s upcoming fifth plant in Songdo, Incheon, which is slated to become fully operational by April 2025. The plant will have a 180,000-liter production capacity, raising the company’s total production capacity to a combined 784,000 liters.

During the four-day conference, the company also will hold a series of meetings with investors and potential clients to promote the company’s increasing competitiveness in the market, the official added.

By Shim Woo-hyun(ws@heraldcorp.com)