Samsung Biologics investing $736 mln in manufacturing plant

Samsung Biologics investing $736 mln in manufacturing plant

Nov 27 – Samsung Biologics, an unlisted arm of South Korea’s Samsung Group, said on Friday it would invest 850 billion won ($736 million) to build a manufacturing facility, as the conglomerate steps up its expansion in the biopharmaceutical sector.

Construction of the plant, which will have a capacity of 180,000 litres, is to be completed by September 2018, according to a regulatory filing.

Most shares in Samsung Biologics are owned by Samsung C&T Corp and Samsung Electronics Co Ltd.

Samsung Bioepis Co Ltd, a developer of generic versions of biotech drugs that is 90 percent-owned by Samsung Biologics, said in June it was considering a Nasdaq IPO.

($1 = 1,154.5100 won) (Reporting by Ju-min Park; writing by Tony Munroe; editing by Jason Neely)

Source http://www.reuters.com

November 27, 2015 / Pharma News