Samsung Biologics Q3 net income down 21.2% to $295.2 mil.

Samsung Biologics, the biotech arm of Samsung Group, on Wednesday reported its third-quarter net profit of 391.1 billion won ($295.2 million), down 21.2 percent from a year earlier. The contract development and manufacturing organization (CDMO) service provider, which offers comprehensive development and manufacturing solutions, said in a regulatory filing that it posted 640.1 billion won in operating profit for the quarter, compared with 633.5 billion won a year ago. Revenue rose 18.5 percent to 1.49 trillion won. The operating profit was 5.1 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.