11:04 AM
Aug 08, 2018
 |  BC Extra  |  Company News

Samsung planned $22B investment includes biopharma, AI

Samsung Group (Seoul, South Korea) said it would invest W25 trillion ($22.2 billion) over the next three years in biopharmaceuticals and artificial intelligence, among other sectors.

While Samsung did not disclose details of the plans, it did say it will continue to invest in its contract manufacturing and biosimilar businesses, which includes support of biosimilar development and manufacturing.

The announcement comes eight years after the conglomerate announced plans to invest W2.1 trillion ($2 billion) to build a biosimilars business over 10 years, an announcement that was quickly followed by the launch of JVs Samsung BioLogics Co. Ltd. (KOSDAQ:20740) and Samsung Bioepis (see “Biogen’s Biosimilars Shot”).

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