Samsung Bio President "Establishing Bio Contract Research Laboratory in the US"

President Kim Tae-han (left) and Vice President John Lim of Samsung Biologics are presenting at the JP Morgan Healthcare Conference on the 15th (local time).

[Asia Economy Reporter Choi Dae-yeol] Samsung Biologics has decided to establish a local research center in the United States to expand its business there.

On the 15th (local time) at the JP Morgan BioHealth Conference in the U.S., Kim Tae-han, CEO of Samsung Biologics, said, "Last year, we secured 35 contract manufacturing organization (CMO) projects based on products, 42 contract development organization (CDO) projects, and 10 contract research organization (CRO) projects," adding, "We obtained 47 global manufacturing approvals and have become a global bio company."

On the same day, CEO Kim gave a presentation titled "Samsung's Innovation and Growth in the Bio Industry" to local industry officials and investors. He revealed plans to open a CDO research and development center in San Francisco, where the event was held, within this year, and to further expand into the U.S., Europe, and Asia. He stated, "From 2017 to last year, we have cumulatively carried out 42 projects, and this year we aim to add at least 18 more, targeting over 60 projects."

According to the company, the current production scale (364,000 liters) is the largest among CMO companies worldwide. By using parallel processing, the construction and operation period of the plant was reduced by about 40%, and the investment cost per production unit was only half, securing price competitiveness. It was also evaluated that the company has international quality competitiveness, having obtained approval for 47 products from major pharmaceutical regulatory authorities in the U.S., Canada, and Europe.

CEO Kim stated that the CMO target will increase from 35 products last year to 47 products this year based on the number of production products. The operating rate of Plant 1 is close to maximum capacity, Plant 2 is at 100%, and Plant 3 was at about 35% last year. This year, it is expected that Plant 3's utilization rate can be raised to over 60%. Beyond simple contract manufacturing, the company has secured a customer base of more than 9,000 bio-technology companies and large pharmaceutical firms by linking development, research, and safety testing fields. The company said, "By expanding our business model, we are moving toward becoming a company capable of providing all services related to biopharmaceutical production."

This content was produced with the assistance of AI translation services.