Samsung Biologics joins PSCI, a first for Korean CDMOs

[Courtesy of Samsung Biologics Co.]

Samsung Biologics Co., the biotech arm of South Korea’s Samsung Group, announced on Tuesday that it became the first Korean contract development and manufacturing organization (CDMO) company to join the Pharmaceutical Supply Chain Initiative (PSCI).

PSCI is a global supply chain initiative for the pharmaceutical and biotechnology industries that was founded as a nonprofit organization in the United States in 2013 to promote a sustainable supply chain for these two industries. It has 83 member companies worldwide, including Johnson & Johnson, Pfizer Inc., Novartis AG, and AstraZeneca plc.

PSCI conducts a preliminary evaluation of environmental, social responsibility, and corporate governance (ESG) practices for companies that wish to join. The evaluation consists of over 850 questions.

“We will actively collaborate with member companies to enhance ESG management practices,” a Samsung Biologics official said. “We will thoroughly comply with PSCI’s supply chain management principles and actively cooperate with its audit programs as part of this effort.”