Samsung BioLogics has received the Best Asia CMO award from the Asia-Pacific Bioprocessing Excellence Awards 2017 held in Singapore, the company said Thursday.

The award ceremony was held on the sidelines of the fourth Biologics Manufacturing 2017 conference. Samsung BioLogics was recognized for its achievement in leading the industry’s innovation with quality and speed competiveness, the company said.

“By utilizing the latest world-class facilities to maximize production efficiency and strive for continual innovation to manufacture high quality biologics with competitive price, Samsung aims to provide the best contract manufacturing service in the world,” said the company in a statement.

The biologics industry in Asia Pacific is a fast growing market in the world, accounting for 30 percent of the global biosimilar market.

A third plant of Samsung BioLogics is currently under construction with an aim to start operations in the fourth quarter of 2018. Samsung hopes to become the world’s largest contract manufacturing organization for biosimilar products with a total production capacity of 362,000 liters.

By Cho Chung-un (christory@heraldcorp.com)