Samsung BioLogics losses not as bad in Q3 this year

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Samsung BioLogics losses not as bad in Q3 this year

Samsung BioLogics, a biopharmaceutical unit of Samsung, said Tuesday its third-quarter net losses narrowed slightly from a year earlier on reduced equity deficit from its affiliates.

For the three month period ending Sept. 30, net losses shrank to 30.14 billion won ($26.5 million) from 31.69 billion won a year earlier, the company said in a regulatory filing.

Operating profit fell 49 percent to 10.4 billion won in the third quarter from 20.4 billion won a year ago. Sales fell 21 percent to 101 billion won from 127.4 billion won.


Yonhap

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