Samsung Biologics investing $736 million in manufacturing plant

Samsung Biologics investing $736 million in manufacturing plant
Highlights

Samsung Biologics, an unlisted arm of South Korea\'s Samsung Group, said on Friday it would invest 850 billion won ($736 million) to build a manufacturing facility, as the conglomerate steps up its expansion in the biopharmaceutical sector.

Samsung Biologics, an unlisted arm of South Korea's Samsung Group, said on Friday it would invest 850 billion won ($736 million) to build a manufacturing facility, as the conglomerate steps up its expansion in the biopharmaceutical sector.


Construction of the plant, which will have a capacity of 180,000 litres, is to be completed by September 2018, according to a regulatory filing.

Most shares in Samsung Biologics are owned by Samsung C&T Corp and Samsung Electronics Co Ltd.

Samsung Bioepis Co Ltd, a developer of generic versions of biotech drugs that is 90 percent-owned by Samsung Biologics, said in June it was considering a Nasdaq IPO.
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