Samsung's new Joint-Venture with Quintiles Transnational is about to bear fruit: on May 27th a groundbreaking ceremony for a biopharmaceutical manufacturing plant in the free economic zone at Incheon, Korea, was held.
The venture Samsung BioLogics, announced the construction of a new facility with a cell culture capacity of 30,000 liters with an investment volume of 330 billion won (about US $303 million). The partnership with Quintiles Transnational, a global supplier of integrated pharmaceutical services, came to be after Samsung identified biopharamaceuticals as one of it's new strategic businesses in 2010, anouncing long-term plans to invest about 2.1 trillion won for the developement of biopharamceuticals.
A correeponding agreement with Quintiles was signed this February. Samsung expects synergetic effeccts from its Samsung Medical Center research chain and Smsungs Electronic's medical equipment business....