0728 GMT - Samsung Biologics is likely to benefit from rising contract development and manufacturing organization penetration, Nomura's analyst Cindy Park says in a research report. Nomura's view is partly based on strong global demand for large-scale contract manufacturing organizations, as pharmaceutical firms are increasingly transitioning into CDMOs to minimize risks related to high capex and uncertainties on drug approvals. CDMO penetration in global bio-pharmaceutical industry for mammalian cells will likely rise to 45% by 2030 from estimated 35% this year, with the South Korean contract development and manufacturing organization likely to be a key beneficiary. Nomura assumes coverage of the stock with a buy rating and a target price of KRW1,400,000.00. It previously held a neutral rating and a target price of KRW840,000.00. Shares closed 1.7% higher at KRW1,069,000.00. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 17, 2025 03:28 ET (07:28 GMT)
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