Samsung Biologics to spend 1.7 tln won for new plant
SEOUL, Samsung Biologics, a biopharmaceutical unit of South Korea’s largest conglomerate Samsung Group, said Tuesday that it will build a fourth plant in the country to meet rising orders.
The 1.7 trillion-won (US$1.4 billion) plant, in Songdo, west of Incheon, will have a bioreactor capacity of 256,000 liters, the company said in a regulatory filing.
Samsung Biologics said the planned factory is aimed at strengthening the company’s competitiveness, following major deals.
The company has inked a combined 1.8 trillion won worth of deals to manufacture products for major global pharmaceutical giants during the first half of this year.
Among the lineup is a tie-up deal with multinational drugmaker GlaxoSmithKline Plc. (GSK) to manufacture a GSK biosimilar product.
Under the contract manufacturing organization agreement, Samsung Biologics will commercially produce GSK’s lupus treatment, Benlysta, starting in 2022. The eight-year contract is valued at more than $231 million.
Source: Yonhap News Agency