Samsung Biologics strives to win more deals this year

John Rim at the 41st Annual J.P. Morgan Healthcare Conference in San Francisco [Source : Samsung Biologics]

Samsung Biologics Co. plans actively seek to win more orders as its fourth plant gears into full operations and it plana to build a Bio Campus II, Chief Executive Officer John Rim said Wednesday during the 41st Annual J.P. Morgan Healthcare Conference in San Francisco.

Rim said that Samsung Biologics’ Plant 4 facility, currently only partially completed, will be fully operational in 2023, helping the company to expand orders and take a leading share of the market. With the completion of the plant, the company’s production capacity will top 604,000 liters.

Currently, the company has signed manufacturing agreements with eight companies covering 11 products and it is discussing potential deals with 26 more contractors covering 34 products, said Rim.

The company will also invest 7.5 trillion won for its second biopharmaceutical campus that will house large biomedicine production facilities and an open innovation center, Rim said.

Next-generation medicines, including antibody-drug conjugates (ADCs) and genetic therapy medicines, have also been added to the bio company‘s portfolio. The company plans to start production of ADCs n the first quarter of 2024.

Samsung Biologics also said that it will open a new sales office in New Jersey to help the company better communicate with its global customers.

In terms of recent achievements, Samsung Biologics said its revenue surpassed 2 trillion won in the first nine months of last year and acquired new technologies through contract development projects, including its bispecific antibody platform “S-DUAL.”