Samsung BioLogics signs contract worth up to $148 million 2nd March 2018
Samsung BioLogics, an Incheon, Korea-based contract biologics manufacturer, has entered into its first manufacturing contract for its newest biologics manufacturing facility in Songdo, South Korea. The approximate value of the contract is $148 million dollars if the product is successful in the clinic and moves forward with commercial launch.
This latest facility is one of three Samsung BioLogics facilities in Songdo, Incheon. It was mechanically completed in November 2017 with 180,000 litres of total capacity and gives the company a total production capacity of 362,000 litres. The plant is expected to be cGMP operational by the fourth quarter of 2018. Samsung BioLogics invested $740 million in the plant.
Samsung BioLogics has production capacity of 30,000 litres at its first plant, which started full commercial operation in November 2015, and 152,000 litres its second plant, which started operations in February 2016.