INCHEON, South Korea, March 17, 2023 /PRNewswire/ -- Samsung Biologics (KRX: 207940.KS), a leading contract development and manufacturing organization (CDMO), announced today that the company will commence the construction of a fifth plant as part of its strategic expansion in response to increased market demand.
The company will invest over KRW 1.9 trillion in the new facility and break ground in the first half of this year with the aim to commence operations in 2025. Located near its current Songdo site, Plant 5 will be the first facility of the company's second Bio Campus, encompassing an area of 96,000m2 and holding a capacity of 180,000 liters. Upon Plant 5's full completion, Samsung Biologics will maintain its global biomanufacturing capacity leadership with a total of 784,000 liters.
"Given the continuing increase in the demand for outsourced manufacturing of biopharmaceuticals, we are proactively making this investment in alignment with our growth strategy to further strengthen our standing as a leading CDMO," said John Rim, President and CEO of Samsung Biologics. "The new facility will enable us to provide our customers with even greater innovation and services that will increase speed to market and flexibility."
The plant is expected to further maximize operational efficiency, allowing the company to leverage existing capabilities, expertise and technologies acquired through its experience with Plants 1 through 4, while introducing advanced digitalization and sustainability features.
Samsung Biologics purchased 360,000m2 of land in July 2022 for its second Bio Campus, which will house additional large-scale plants and an open innovation center. The company will be investing KRW 7.5 trillion in its second Bio Campus.
The company's existing Plants 1 through 3 are under near-full utilization and its Plant 4, which started partial operations in October last year, is expected to commence full operations by midyear.
In line with the company's expansion plans, Samsung Biologics will also enhance its presence in the U.S. with the opening of a regional office in New Jersey next week. The new office will streamline communication and enable the company to work in closer proximity to clients based in the U.S. and Europe.
"Our increased U.S. presence will allow us to provide support for clients with even greater agility and engage the broader biotech industry more than ever," said Rim.
On the same day, the company's President and CEO John Rim was elected as Chair of the Board of Directors, and will further helm the company's long-term growth strategy while expanding its leadership position as a top-tier global CDMO.
About Samsung Biologics Co., Ltd.
Samsung Biologics (KRX: 207940.KS) is a fully integrated CDMO offering state-of-the-art contract development and manufacturing services. With proven regulatory approvals, the largest capacity, and the fastest throughput, Samsung Biologics is an award-winning partner of choice and is uniquely able to support the development and manufacturing of biologics products at every stage of the process while meeting the evolving needs of biopharmaceutical companies worldwide. For more information, visit samsungbiologics.com.
Samsung Biologics Contact:
Claire Kim, Head of Marketing and Global Communications