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THE INVESTOR
March 21, 2019
Big Reunion

Bio & Medicine

Samsung Bioepis to spend W180b on new R&D center

  • PUBLISHED :March 07, 2019 - 18:09
  • UPDATED :March 07, 2019 - 18:09
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Korean biopharmaceutical firm Samsung Bioepis will spend 180.4 billion won (US$159.70) to build a new research and development center, its parent company said Thursday.

The investment cost accounts for 36.44 percent of the company’s capital at the end of 2017, Samsung BioLogics, a biopharmaceutical unit of Korea’s top conglomerate Samsung Group, said in a regulatory filing.


“The construction of the R&D facility is intended to strengthen competitiveness,” the company said.

Samsung Bioepis, which was established in 2012 in a joint venture between Samsung Biologics and Biogen, mostly manufactures biosimilars.

The market for biosimilars has grown in recent years as such drugs are available to customers at a discount. Biosimilars are officially approved copycat medicines developed after patents for the original biopharmaceuticals expire.
  
By Ram Garikipati and newswires (ram@heraldcorp.com)

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