Samsung Biologics to start operation of fourth plant as early as Tuesday

Industry

Published: 10 Oct. 2022, 16:45

Samsung Biologics to start operation of fourth plant as early as Tuesday

Samsung Electronics Vice Chairman Lee Jae-yong answers questions from reporters at the Seoul Gimpo Business Aviation Center in Gangseo District, western Seoul, after a two-week business trip overseas, on September 21. [YONHAP]

Samsung Biologics will start operating its fourth plant in Songdo, Incheon, which is the world’s largest single pharmaceutical plant, as early as Tuesday.

The partial operation of the fourth plant, which Samsung Biologics has been pushing for within the month, is likely to begin on Tuesday, according to pharmaceutical and bio industry insiders on Monday.

On the first day of operation, Samsung Electronics Vice Chairman Lee Jae-yong will visit the plant to tour the production facilities and encourage employees, according to the insiders. Neither Samsung Electronics nor Samsung Biologics have revealed details of Lee’s schedule.

Once operations begin in the fourth plant, it will increase production capacity to 620,000 liters, which Samsung says is equivalent to nearly 30 percent of the global contract manufacturing capacity for biopharmaceuticals.

Samsung Biologics started construction of the plant in Songdo in 2020 and the full completion is scheduled for next year.

The company said in July that it signed a contract with five pharmaceutical companies to produce seven products at the Songdo plant.

Samsung Biologics has major global companies as customers, including AstraZeneca, Moderna, GlaxoSmithKline, Pfizer and Eli Lilly.

BY LIM JEONG-WON [lim.jeongwon@joongang.co.kr]