Samsung biologics

Samsung Biologics to build first overseas factory in US

Excerpt:

Samsung Biologics CEO John Rim said Monday the US states of California, North Carolina, Washington and Texas are the strongest candidates the South Korean contract manufacturing organization is considering for its first overseas production facility.

 

Article Summary:

Pointing out that some of the US’ major bio clusters are located in those four states, the CEO added that the CMO giant has not made any decisions and is still reviewing options.

 

“We are certainly expanding. The Plant 4 will begin partial operation in October, adding a 60,000-liter production capacity. By the second quarter (of next year), it will have a 180,000-liter production capacity,” Rim told reporters in a press meeting on the sidelines of the 2022 BIO International Convention in San Diego.

 

Once Samsung Biologics begins full operation of its fourth megaplant in Songdo, Incheon, the combined production capacity of the four plants would reach 620,000 liters to account for about 30 percent of the entire global demand, according to the company. Plant 4 will have the world’s biggest CMO production capacity in a single facility, at 256,000 liters.

 

“As of second quarter this year, we have accumulatively secured contracts worth of $7.9 billion through 2028, but the figure could go up to $12 billion or more,” said Rim, implying that the existing deals could be renewed or more agreements could be signed.

 

The CEO also touted Samsung Biologics’ fast-paced construction of large production facilities as its strongest competitive edge on the global stage.

 

About Samsung Biologics:

Samsung Biologics is a South Korean biotechnology company headquartered in Songdo, Incheon, South Korea. The biotech division of Samsung Group, it provides contract development and manufacturing services to the biopharmaceutical industry.

 

(Source: The Korea Herald, 15th June 2022)

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