Samsung starts construction of new biologic drug production plant worth $726.2 million

Samsung BioLogics said it has started construction for its third plant worth a total investment of 850 billion South Korean won ($726.2 million).

The plant, with a total capacity of 180,000 liters, is expected to be completed by 2017 and begin operation in the fourth quarter of 2018 after validation.

Dr TH Kim, chief executive of Samsung BioLogics, said: "We are investing in a third plant to provide a stable supply of biopharmaceuticals, a market which is growing exponentially, and to meet the manufacturing demands from global biopharmaceutical companies. With the world's largest capacity and the capability to operate 365 days a year non-stop, the third plant will boast world-class quality and productivity. "