Samsung Biologics signed the first contract for its newly built Plant 3

Samsung BioLogics, headquartered in Incheon, South Korea announced that it has entered into the first manufacturing contract for its Plant 3 facility. According to Samsung BioLogics, the approximate value of the contract is $148 million if the product will be successful in the clinic and moves forward with commercial launch.

Samsung BioLogics’ Plant 3 facility was mechanically completed last November. It has 180,000 liters total capacity and is expected to be cGMP operational by Q4 2018.

TH Kim, CEO of Samsung BioLogics, commented “We are excited to enter into this partnership with a fast growing company and very pleased to be chosen to provide a high quality life-saving product to their patients.”

He also added that “As products from our Plant 1 (6 x 5,000L) and Plant 2 (10 x 15,000L) facilities mature, Plant 3 will be utilized to supply those with increasing demand to ensure that we continue to meet our client’s demand. We continue to discuss with multiple biopharmaceutical companies for long term partnership in Plant 3. As such, the utilization rate in Plant 3 may ramp up more quickly than anticipated.”

SOURCE: samsung biologics
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