Samsung BioLogics Gets $148-Million Contract for New Manufacturing Plant
The contract development and manufacturing organization has entered it first manufacturing contract worth $148 million for its recently completed Plant 3 facility.
On Feb. 22, 2018, Samsung BioLogics, an Incheon, South Korea-based contract development and manufacturing organization, announced that it has entered into its first manufacturing contract for a pipeline product at its new Plant 3 facility, which was mechanically completed in November 2017. The contract is valued at $148 million if the product is successful in the clinic and moves forward with commercial launch. The Plant 3 facility has a total capacity of 180,000 liters and is expected to be cGMP operational by the fourth quarter of 2018.
"We are excited to enter into this partnership with a fast-growing company and very pleased to be chosen to provide a high-quality life-saving product to their patients," said TH Kim, CEO of Samsung BioLogics, in a company press release.
He also added that, "As products from our Plant 1 (6 x 5,000 L) and Plant 2 (10 x 15,000 L) facilities mature, Plant 3 will be utilized to supply those with increasing demand to ensure that we continue to meet our client's demand. We continue to discuss with multiple biopharmaceutical companies for long term partnership in Plant 3. As such, the utilization rate in Plant 3 may ramp up more quickly than anticipated."
Source: Samsung BioLogics
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