Samsung to Double Down on Vaccines, Other Biopharmaceuticals
South Korean conglomerate Samsung, which already manufactures Moderna’s COVID-19 vaccine, plans to increase its involvement in the biopharmaceuticals space.
The company said this week that over the next three years it will expand its contract drug manufacturing business led by Samsung Biologics and its biosimilars-development business via Samsung Bioepis.
Samsung said it will expand its contract manufacturing business by building two new plants in addition to the three it already has and a fourth that’s under construction.
Samsung Biologics plans to enter into the contract manufacturing of vaccines and cellular and gene therapy products, while the biosimilar business will continue to boost its product development pipeline. The move is part of a larger planned investment of $205 billion over the next three years in chip manufacturing, biopharmaceuticals, and battery production.