Samsung Biologics to open $2B drug manufacturing plant

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The plant is set to have to do with 2,475,700 square feet, making it the largest on the planet.

Maia Anderson –
Thursday, September 3rd, 2020

Samsung Biologics CEO Kim Tae-han said the plant was initially going to be much smaller sized, but the company pressed for a growth after seeing the increase in demand for COVID-19 treatments. Last quarter, the drugmaker saw production orders nearly triple over the previous year to $1.5 billion, the Journal reported..

Samsungs drugmaker affiliate, called Samsung Biologics, is preparing to build a $2 billion drug factory to be completed in 2022, The Wall Street Journal reported..

Samsung said it wishes to catch an “unprecedented increase in need” triggered by the COVID-19 pandemic, according to the Journal. The pandemic has actually likewise exposed global dependence on China and India for drug production, which can threaten drug supply chains and trigger scarcities..

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Samsung Biologics makes drugs for some of the worlds biggest drugmakers, including Bristol Myers Squibb and Roche, the Journal reported..