Wednesday, June 16

Samsung Leads Biopharmaceutical Companies In Push Towards Future

Samsung Leads Biopharmaceutical Companies In Push Towards Future

Samsung Biologics new IPO could be valued at $2.6 billion ...The biopharmaceutical industry is consistently on the cutting edge of the future, not only for healthcare but for innovative technologies and transformations across multiple industries.

Companies such as Wuxi Biologics, AbbVie, and Patheon have all evolved as front-runner CDMOs in an effort to bring new and transformative innovations to the pharmaceutical industry.

But perhaps no single company has made more of an impact over the last year than Samsung Biologics, which is poised to grow into its role as the leading biopharmaceutical company in the world. Here’s why.

The Decade Ahead

While Samsung Biologics has long been known primarily as a CDMO, a recent address by the company’s new CEO, John Rim, gave strong signals about the company’s future. 

“We will look beyond the next decade and evolve as the global top-tier biopharmaceutical company by securing future growth engines with continued investment and expansion in capacity, portfolio, and global footprint,” he said.

This statement came on the back of multiple announcements from Samsung Biologics relating to expansion, including explosive growth in revenue, the construction of plant 4, a new CDO R&D center in San Francisco, and much more. 

Explosive Revenue Growth

One marker of Samsung Biologics’ continued growth as a CDMO is their recently released earnings report from 2020, which saw it increase revenue by 463.2 billion Korean won for a total annual revenue of more than 1 trillion won.

In the fourth quarter of 2020, the company scored their highest single quarterly sales record ever, boosting sales 36.7% in just one quarter. 

One of the most newsworthy aspects of Samsung Biologics’ growth in recent months has been the way the company has adapted to a quickly shifting landscape due to the COVID-19 pandemic, including adapting its global supply chain and finding ways to stay engaged virtually through investments in new digital platforms. All in all, their new contracts for 2020 were 2.5 times higher than in 2019.

Historic plant in construction

Samsung Biologics also continues its ongoing construction of a fourth manufacturing plant, also known as the “Super Plant.” Not only will this new facility dramatically increase the company’s capabilities when it goes live for manufacturing activities in 2023, it will also lay claim to the world’s largest manufacturing capacity at a single site, with multi-scale capabilities.

The plant will be designed from the ground-up for digitalized processes, providing data integrity powered by Pharma 4.0-enabled technology. It will be capable of multiple operation modes to maximize production efficiency and feature some of the most advanced biomanufacturing technologies available, including the N-1 perfusion cell culture system.

New CDO R&D center in San Francisco 

The opening of Samsung Biologics’ new CDO R&D center in San Francisco is yet another bright spot for the company, allowing for its contract development services to move even closer in proximity to its global clients.

By connecting more closely with biotech clients in the Bay area and beyond, Samsung Biologics hopes to boost client satisfaction and provide the convenience of a ‘next-door’ partner.

San Francisco is widely considered the birthplace of modern biotech, and continues to be one of the fastest growing clusters of biotech innovation. This new R&D Center will offer Samsung Biologics the opportunity to offer more seamless service to the region while maintaining the commitment to quality that’s made them the most sought after name in biotech.

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by Scott Rupp John Rim, N-1 perfusion cell culture system, Samsung Biologics, Samsung manufacturing

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