Samsung Bioepis Sees 107% Sales Growth in Q2, Driven by Biosimilars

1. Sales Surge: Samsung Bioepis reported a 107% year-over-year increase in sales, reaching 530 billion South Korean won ($384 million) in Q2 2024.
2. Biosimilar Market Share: As of Q2 2024, the adalimumab biosimilar market share has reached 4%, increasing 2% compared to the previous quarter.
3. Operating Profit: The company's operating profit shot up 514% on-year to 257.1 billion won in Q2 2024.
4. Average Sales Price (ASP): The average ASP of all biosimilar products is $953, a 27% decrease, while the average ASP for biosimilars alone is $1,021, a 21% decrease.
5. Market Dynamics: The biosimilar market continues to grow, with 48 approved biosimilars in the US, and more expected as exclusivity periods expire.