05 Aug Samsung Biologics clock record earnings after surging demand for COVID-19 treatments
The surging demand for COVID-19 treatments has seen Samsung Biologics clock record earnings in Q2 2020 between April and June this year, Samsung Biologics has won six CMO deals, seven CDO deals and one CRO deal. The Songdo, Incheon-based site is the world’s largest biologics manufacturer, with three plants able to produce 364,000 litres of mammalian biological substances.
The three plants have a variety of different bioreactor sizes, from 1,000 litres up to 15,000 litres. This enables Samsung Biologics to meet the demands for diverse batch sizes, whether it be large commercial manufacturing deals or smaller clinical-stage contract deals. While their venture into biologics is less than a decade old, Samsung’s deep understanding of building cutting-edge plants has contributed to their success.
The company has announced plans to expand their drug producing capabilities by adding more complex machinery in 2021 and 2022. Global expansion plans have been somewhat halted by the pandemic however a San Francisco contract development plant is being developed to take advantage of the biotech companies in the region.
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