News
28 Feb 2011
Samsung & Quintiles Ink Bio-Manufacturing Deal
Samsung Electronics, a South Korean manufacturer of electronic goods, has partnered with Quintiles, a pharmaceutical services company, to enter into the biopharmaceuticals market.
Samsung has formed a joint venture with Quintiles Transnational Corp., with $266 million of capital, in its first project in biopharmaceuticals. Samsung will own 90% of the joint venture company and Quintiles will own the remaining 10%.
Initially, a factory will be built in Incheon, South Korea to produce biopharmaceutical drugs to treat cancer and arthritis on a contract manufacturing basis. Construction will begin during the fisrt half of 2011, with production expected to begin during the fisrt half of 2013. The company plans to develop a biosimilar of Rituxan, according to a Bloomberg report. Samsung also has plans to develop new biopharmaceuticals as part of its comprehensive 10
Initially, a factory will be built in Incheon, South Korea to produce biopharmaceutical drugs to treat cancer and arthritis on a contract manufacturing basis. Construction will begin during the fisrt half of 2011, with production expected to begin during the fisrt half of 2013. The company plans to develop a biosimilar of Rituxan, according to a Bloomberg report. Samsung also has plans to develop new biopharmaceuticals as part of its comprehensive 10
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