I guess making TVs is not exciting enough.
Samsung announced at this week's JP Morgan Conference that it would be spending another $2 B to add to its CMO facility in the Songdo Free Economic Zone in Seoul, Korea. The multi-national giant has already built a 30,000 sq ft facility with 6 x 5000 L reactors by the end of Dec 2012. It plans to add a further 150,000L of mammalian cell culture manufacturing capacity and 40,000L of microbial fermentation. This would make it among the top 4 or 5 CMOs in capacity in the world. It would be similar in capacity to Celltrion also located in the Korean enterprise zone. See Fine.
TH Kim, Samsung BioLogics CEO, says the company can exploit its construction and manufacturing expertise in this business. They have also hired experts and professionals from other CMOs in the industry to staff their new facility. Samsung believes that it will be able to manufacture biologics (and biosimilars) at lowered costs over the competition and therefore deliver value to clients and patients.
There is no doubt that they have the financial muscle to make an impact -- assuming they can get the right staff in place to run the business.
Posted by Bruce Lehr Jan 9th 2013.