SEOUL, KOREA- Samsung is speeding up its move to achieve a No. 3 spot in the global biotech and pharmaceutical market. Samsung Biologics joined hands with the world’s No. 1 antibody drug maker Roche, following an earlier contract manufacturing partnership with Bristol-Myers Squibb in July.
Samsung, accordingly, which had selected life sciences and pharmaceuticals as one of the five major new businesses in 2010, gained a foothold to expand its presence in these areas.
Samsung Biologics announced on October 22 that it signed a long-term agreement with Roche for production of bio medicals. Roche, headquartered in Switzerland, is the world’s No. 1 pharmaceutical company in bio-medical area.
Under the terms of the pact, Samsung will produce bio-medical materials under consignment for Roche at its production facility in Songdo, Incheon. Early this year, Samsung had completed the construction of a plant in Songdo that’s equipped with 30,000 L-class biochemical production equipment.
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