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Samsung Biologics to spend 1.7 tln won for new plant

All News 09:16 August 11, 2020

By Kim Han-joo

SEOUL, Aug. 11 (Yonhap) -- 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.

This undated photo, provided by Samsung Biologics, shows one of its three plants in Songdo, west of Incheon, South Korea. (PHOTO NOT FOR SALE) (Yonhap)

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.

khj@yna.co.kr
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