CDMO Samsung Biologics is preparing to construct a fifth biomanufacturing facility after acquiring 10,000 m2 of land in Songdo, Korea.
In 2020, Samsung Biologics laid plans for a fourth ‚Äėsuper plant‚Äô at its site in Songdo, Incheon at a cost of over 2 trillion Korean won‚ÄĒroughly equivalent to $2 billion.
Construction of the facility, which will house 256,000 liters of mammalian production capacity, is underway but in the meantime the contract development and manufacturing organization (CDMO) has made a move to build a fifth plant.
According to the Korea Herald, Samsung Biologics bought 10,000 m2 of land in Incheon last week and is set to construct a biomanufacturing facility on the site.
Samsung Biologics confirmed the transaction to BioProcess Insider, though a spokesperson said further details regarding the ‚Äúmulti-modal‚ÄĚ plant ‚Äď including the cost, which the Korea Herald placed at 306 billion won ($260 million) ‚Äď is yet to have been decided.
In its 10-year history, Samsung Biologics has rapidly grown its manufacturing capacity to keep up with demand from the biologics industry. Even without the fourth plant online, the firm boasts a total of 364,000 L of mostly stainless-steel bioreactor capacity.
The CDMO has also announced plans to¬†add mRNA capacity at its site following success for the modality in response to the COVID-19 pandemic ‚Äď though financials of this expansion have not been divulged ‚Äď and has spoken of its ambitions to go from a CDMO to a top tier pharmaceutical company.
Such expansion comes off the back of record revenues for the firm. According to its Q3 2021 financials last month, sales were up 64% year-on-year to 450.7 billion won ($375 million) for the quarter, due to increased demand for CDMO services and increased utilization at its third plant. The firm also reported early lock-in of capacity at plant number 4, which is set to be fully GMP-ready in the second half of 2023.