Samsung Biologics, a pharmaceutical contract manufacturing organization (CMO) based in South Korea plans to expand its scope in the US and European markets.
They have recorded a high number of revenues for the year ended of 2019, seeing sales growth of 30.9% at 701.6 billion won, and operating growth of 64.6% at 91.7 billion won as compared to 2018.
The growth was driven by the increased operations at all their three manufacturing plants. They plan to expand their manufacturing capacity in South Korea and Globally as they explore other investment options.
Since its launch in 2011, Samsung Biologics has been extensively expanding its offered services beyond CMO, manufacturing, state-of-the-art development, and laboratory testing. They have recently announced its plans to open the company’s first CDO R&D lab overseas in San Fransisco in 2020.
Samsung Biologics is currently assessing further geographical expansion plans in other regions that will work to bring a great synergy of collaboration with the manufacturing site in their headquarters in South Korea.