April 20, 2024

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[THE INVESTOR] Samsung BioLogics, the contract drug making unit of Samsung, has ruled out the possibility of developing its own drugs.

The company, which produces a total of eight products on behalf of global pharmaceutical giants such as Bristol-Myers Squibb and Roche, has drawn much attention over how it’s going to expand the business portfolio in order to become Samsung’s new sources of revenue.

Related:
Dreaming beyond Samsung, BioLogics shakes biopharma industry


Once the contract manufacturing business settles dowm, the next step for the six-year-old BioLogics will be to “work on sales and marketing of medications developed by other firms” rather than spending multibillion dollars and a decade to develop and bring its own drug to market, the firm’s official told The Investor.

“Asking us if we are going to develop a new drug is the same as asking Apple if they’re going to make an application. Who develops applications? Startups. Many global pharmaceutical giants buy licenses from small drug makers for drug candidates with high potential,” he said.

As the pet project of de facto boss Lee Jay-yong of South Korea’s largest conglomerate, BioLogics had a broad support from Samsung.

The company is expected to have a total of 360,000 liters of capacity, the world’s greatest biopharmaceutical product manufacturing capability, when its third plant is completed in 2018.

Currently, BioLogics offers one-stop services, integrating a total biologics manufacturing from process development to bulk production and aseptic fill and finish.

By Park Han-na (hnpark@heraldcorp.com)