INCHEON, South Korea, Jan. 13, 2021 /PRNewswire/ -- Samsung Biologics (207940.KS) set forth its dynamic growth plan for the next decade at the 2021 Annual JP Morgan Healthcare Conference. John Rim, newly appointed President and CEO, unveiled a multidimensional business plan for the company to further expand as a major player in the biopharmaceutical industry, bolstering its rapidly expanding CDMO business with a greater global footprint, continued advancements in its biosimilars subsidiary, and ultimately new drug development.
"Our next decade will be marked by increased business expansion and portfolio diversification. While continuing to achieve best-in-class CDMO services and become a champion in the biosimilars business, we will also lay the groundwork for novel drug development, to ultimately become a full-service biopharmaceutical company," said John Rim, CEO of Samsung Biologics on Wednesday in his presentation at the Main Track of the conference, held virtually this year due to COVID-19.
To support the company's long-term vision, Samsung Biologics announced plans to secure manufacturing facilities overseas in addition to outlining its global CDO R&D Center in multiple locations. Rim noted that product diversification from mAb/fusion protein manufacturing to encompass future modalities such as vaccines and cell-gene therapies are also being studied, and the company is further venturing into new business models for its growth roadmap.
Samsung Biologics signaled a strong year in 2020, signing over $1.7 billion in CMO contracts – a record-breaking figure – and opening the company's first overseas CDO R&D center in San Francisco. The company also proactively developed multiple new platforms such as virtual exhibition hall and live-streaming tour technologies to enhance virtual connectivity with global clients and regulatory agencies by offering convenience and agility amid the COVID-19 pandemic.
Rim announced the company's primary focus for the current year will be to accelerate Plant 4 construction to meet global demand, and secure early contract lock-ins for the aforementioned "Super Plant" as all other plants are expected to be near-full utilization in 2021.
"The strategic investments and portfolio diversification outlined today signify the momentum in our business, as well as lay the foundation for the long-term growth opportunity ahead of us," Rim added. "We will look beyond the next decade and evolve as the global top-tier biopharmaceutical company by securing future growth engines with continued investment and expansion in capacity, portfolio, and global footprint."
About Samsung Biologics Co., Ltd.
Samsung Biologics (KRX: 207940.KS) is a fully integrated CDMO offering state-of-the-art contract development, manufacturing, and laboratory testing 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 www.samsungbiologics.com.
SOURCE Samsung Biologics