Samsung BioLogics announced on March 20 that it has concluded a contract development organization (CDO) contract with Eutilex, a Korean biotech company, to develop cancer immunotherapies.The two companies expect to accelerate the development of new drugs through synergy between Samsung BioLogics'
The Financial Supervisory Service (FSS) has launched an investigation into Celltrion Healthcare, a biological medicine marketing company with the largest market capitalization in the KOSDAQ market, for alleged accounting irregularities.The investigation is expected to have considerable impact on loc
The controversy over the Korean financial regulator’s handling of Samsung BioLogics is growing as it was belatedly disclosed that the company was offered to be listed on a foreign stock exchange.During an investor relations (IR) session held at Samsung BioLogics’ second plant in Songdo, Incheon, on
The Securities and Futures Commission (SFC) under the Financial Services Commission referred Samsung BioLogics to the prosecution on Nov. 20 for investigation into its alleged accounting fraud.The SFC also sent a written penalty notice to Samsung BioLogics and its two accounting firms, Samjong and A
Samsung Group saw its market capitalization fall more than 56 trillion won (US$49.47 billion) this year due to the fall in both electronics and biotech shares.According to Seoul-based financial data provider FnGuide on Nov. 18, the combined market value of Samsung Group's 16 listed affiliates ca
The incumbent Korean government appears to have no intention of withdrawing its sword pointed at Samsung Group. Rather it seems to be stepping up its siege of Korea’s largest business group in the name of cleaning up some of its deep-rooted abuses.The latest example of the government’s pressures on
Samsung BioLogics is likely to experience some difficulty in winning biosimilar production contracts from global pharmaceutical companies in the future as Korea’s financial authorities ruled on Nov. 14 that it intentionally committed accounting fraud.Industry watchers say global pharmaceutical compa
The accounting scandal at Samsung BioLogics is expected to affect the group’s plans for separation of finance and commerce and father-to-son managerial control transfer.For the Samsung Group, the separation of its financial and non-financial business is an urgent task as the government is pushing fo
Trading of Samsung BioLogics shares was suspended on the KOSPI stock market on Nov. 14 following the conclusion of the Securities and Futures Commission (SFC), which is under the Financial Services Commission, that the company intentionally committed accounting fraud in 2015.The SFC filed a request
The Nov. 14 conclusion of the Securities and Futures Commission (SFC) that Samsung BioLogics intentionally committed accounting fraud is expected to have significant consequences on Samsung Group and Samsung Electronics vice chairman Lee Jae-yong.Critics argue that the legitimacy of the earlier merg
The Securities and Futures Commission (SFC) concluded on Nov. 14 that Samsung BioLogics intentionally committed accounting fraud in changing its accounting standard in 2015.Kim Yong-beom, vice chairman of the Financial Services Commission who heads the SFC, told a news conference at the government o
The stock price of Samsung BioLogic plunged on Nov. 12, two days ahead of a verdict from the Securities and Futures Commission (SFC) on the accounting fraud allegations against the company.Samsung BioLogics closed at 285,500 won (US$250.99) on the benchmark KOSPI market on Nov. 12, down 22.42 percen
As Samsung BioLogics has decided to jointly manage Samsung Bioepis with U.S.-based Biogen, all eyes are on how the decision will affect the financial authorities ruling on Samsung BioLogics’ allerged accounting fraud.Samsung BioLogics said in a regulatory filing on Nov. 6 that it will complete the t
The Financial Supervisory Service (FSS) and Samsung BioLogics Co. clashed once again over accounting standards at a Securities & Futures Commission (SFC) meeting on Oct. 31.The FSS tried to persuade SFC members with a changed logic but failed to convince them. As a result, the SFC decided to reach a
Three Korean companies, including Naver (6th), Celltrion (17th), and Samsung BioLogics (47th), has made it to this year’s Future 50 list, a collection of companies poised for explosive growth compiled by Fortune magazine with the help of BCG.While last year’s Future 50 only included U.S. companies,
The Financial Supervisory Service’s re-audit of Samsung BioLogics is in its final stage. The financial regulator is expected to maintain its previous conclusion that the biotech company had deliberately committed accounting fraud. As a result, the company is likely to suffer heavy penalties."A re-au
Samsung BioLogics has become the world's top contract manufacturing organization (CMO) as its third plant starts operation.Samsung BioLogics announced on October 1 that its third plant, the world's single largest biopharmaceutical manufacturing facility, has completed a self-validation proce
The Korea Institute of Certified Public Accountants (KICPA) will form a task force (TF) in cooperation with the nation’s top four accounting companies, including Samil PricewaterhouseCoopers Korea and Deloitte Anjin, to determine whether the accounting and auditing practices of corporations and thei
As the South Korean stock market shows a greater variability this year in the aftermath of the United States raising interest rates and the trade war between the U,S, and China, there has been keen competition to take the top spots in market capitalization.According to data from local market tracker
Samsung BioLogics has started the production of biosimilars for the first time since its foundation. After earning global competitiveness and trust in the contract manufacturing organization (CMO) market, it has decided to jump into production of biosimilars two years ahead of its initial plan.Accor