Samsung to Invest $356 Billion into Chipmaking, Biopharma
South Korea-based Samsung announced its plans to invest 450 trillion won (almost $355 billion USD) through 2026 into its core businesses. The conglomerate has many moving parts, and most people are aware of its consumer electronics firm. Samsung Biologics, a contract development and manufacturing organization (CDMO), staffs more than 4,200 people and has more than 90 global clients. On April 20, Samsung Biologics announced it had completed the acquisition of Biogen's stake in the Samsung Bioepis joint venture for $2.
"Today's announcement marks a significant milestone for Samsung Biologics in our continued venture into the biosimilar business and accelerating biosimilar growth," said John Rim, chief executive officer and president of Samsung Biologics, at the time. Although most of the new jobs are expected to be in South Korea, Samsung conducts research and development worldwide, including in the U. In December 2021, Samsung Biologics announced plans to manufacture Moderna's COVID-19 vaccine for use in South Korea, as well as for export to other countries, such as the Philippines and Colombia. Also, in mid-December, Samsung Biologics and AstraZeneca entered a strategic collaboration deal based on an expanded deal in May 2021, which followed an original agreement in September 2020.
And, of course, Samsung's investment in electronics and computer chips has an impact on biopharma and life sciences, with the increased use of wearables and smartphones for health monitoring and in clinical trials. It's not clear how much of Samsung's $356 billion will go directly into its biopharma activities.
Read full article at BioSpace