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Sunday, September 24, 2023

Samsung Biologics’ new production plant to be ready by April 2025

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John Rim, Samsung Biologics CEO, speaks during a press conference held in Boston on Monday. [YONHAP]
John Rim, Samsung Biologics CEO, speaks during a press conference held in Boston on Monday. [YONHAP]

Samsung Biologics’ upcoming $1.5-billion production plant will be ready for operation by April 2025, five months earlier than previously expected, according to the pharmaceutical company Monday.

The latest announcement was made by the company’s CEO John Rim on Monday, during a press conference held in Boston where the BIO International Convention 2023 (BIO USA) is taking place.

In March, Samsung Biologics announced that it will invest 1.98 trillion won ($1.5 billion) to build its fifth production plant in Songdo, Incheon, in order to further expand its production capacity in contract manufacturing of biopharmaceutical products.

The ground was broken for the new plant in April.

While Samsung Biologics previously stated in a regulatory filing that the commercial operation of Plant 5 will begin on September 2025, the project is expected to be fast-tracked by five months, thanks to “accumulated know-how in plant construction,” according to the company.

The estimated duration of the project is significantly shorter than the 35 months taken for the construction of Plant 3, which has the same capacity of 180,000 liters (47,551 gallons) as Plant 5. Plant 3 was completed in November 2011 and began operation in October 2018.

Plant 5 will sit on a 96,000 square-meter (1.03 million-square-foot) site in Bio Campus II, Samsung Biologics’ new manufacturing complex in Songdo, Incheon.

Once the new factory, which will have a 180,000-liter production capacity, begins operation, Samsung Biologics said it will boast the largest combined production capacity among global biomedicine consignment manufacturers at 784,000 liters.

Meanwhile, Samsung Biologics began the full-scale operation of its fourth plant in Songdo on Thursday. The fourth plant has two production facilities, which have a combined capacity of 240,000 liters.

BIO USA, often called the CES of biopharmaceuticals, will run for four days through Thursday. Themed “Stand up for Science,” around 15,000 people from 1,500 companies are estimated to visit this year.

Samsung Biologics opened a 167-square-meter shared booth at the annual event, to show its capabilities in contract development and manufacturing organization (CDMO). A CDMO engages in the early stages of developing a client’s products and takes charge of mass production.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]