Samsung Biologics, the biotech arm of Korea's Samsung Group, said Wednesday its second-quarter net profit jumped 72 percent from a year earlier on robust sales.
Samsung Biologics will attempt to lure clients with its soon-to-open plant for antibody-drug conjugates, a promising next-generation cancer treatment, at BioPlus Interphex Korea 2024.
Samsung Biologics has secured a $1.06 billion contract with an unnamed U.S. drug maker, its largest ever.
The biopharmaceutical contract manufacturer said that its new corporate culture vision, emphasizing respect and transparency, is good for employees and the company.
The United States' efforts to reduce reliance on Chinese biotechnologies are creating new opportunities for Korean biopharmaceutical companies, with Samsung Biologics and CHA Bio Group eyeing increased revenue.
The contract development and manufacturing organization will attend the BIO International Convention 2024 in San Diego from June 3 to 6.
Samsung's Life Science Fund has invested in Seattle's Latus Bio as a new foray into the gene therapy market.
Samsung Biologics, Samsung Bioepis and Samsung C&T will work with the U.S. firm on next-generation cancer treatment with antibody-drug conjugates.
Samsung Biologics inked a $352 million contract manufacturing organization deal with Belgium-based UCB, increasing the total deal to $394 million.
The United States' proposed Biosecure Act has created a volatile market for Chinese firms but has potential benefits for the Korean pharmaceutical industry.
Korea JoongAng Daily Sitemap