[THE INVESTOR] Samsung BioLogics is currently in talks over new supply deals with 15 global pharmaceutical companies, said the CEO of Samsung Group’s contract drug manufacturing unit during the 35th JPMorgan Healthcare Conference in San Francisco.
“Thanks to its exclusive plant construction and operation capabilities, Samsung BioLogics has already sealed production deals worth $2.9 billion with six global pharmaceutical companies to produce nine products,” Kim Tae-han said during a presentation delivered on Jan. 11.
|Samsung BioLogics CEO Kim Tae-han speaks to investors during a presentation at the 35th JPMorgan Healthcare Conference in San Francisco on Jan. 11. Samsung BioLogics|
“As of now, we are in the process of negotiating new deals on supplying more than 30 products for over 15 new companies,” he added.
Based in Songdo, Incheon, Samsung BioLogics is a contract manufacturing organization that produces biologic drugs on behalf of clients including Bristol-Myers Squibb and Roche.
The Korean biopharma CMO has taken part in the US-based conference every year since 2012. The annual four-day event is the world’s largest and oldest health care symposium. It brings together the world’s top pharmaceutical companies and investors to discuss the latest industry trends and seek out new deals.
Samsung BioLogics’ participation at the forum this year came just months after its official market debut in November 2016. Kim is set to hold dozens of meetings with officials of global drugmakers during the conference, a company spokesperson said.
During his presentation to more than 400 investors, Kim further highlighted the firm’s business agenda, vision and competitive edge in the global contract drug manufacturing business.
“We plan to continue expanding the biopharma CMO business by offering stable manufacturing services to biotech companies that lack independent production facilities, and by saving global drugmakers the time and money needed to build new production plants,” the Samsung BioLogics chief said.
“We hope to build a new market paradigm in which CMOs specializing in biopharma production can lead the industry,” he added.
In addition to Samsung BioLogics, its subsidiary which focuses on developing biosimilars -- Samsung Bioepis -- is also participating in the JPMorgan Healthcare Conference. Biosimilars are cheaper, near-replicas of biologic drugs whose patents have expired.
Samsung Bioepis CEO Ko Han-sung is also attending the US-based health care symposium to get a better sense of the latest industry trends and issues of 2017, a company spokesperson said. Ko will also be holding multiple meetings with industry figures during the conference.
By Sohn Ji-young/The Korea Herald (firstname.lastname@example.org