Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients
Samsung Enters Contract Biopharma Sector
8:27 AM MST | March 3, 2011 | Alex Scott
Electronics giant Samsung says it has formed a joint venture company with Quintiles, a top-tier pharma services group to support its entry into the contract manufacture of biopharmaceuticals. Samsung aplans to commercialize generic biopharmaceuticals - dubbed biosimilars - by 2016, and expand into innovative biologics thereafter. Under an agreement signed during the past week, Quintiles takes a minority 10% stake in teh jv and will investment of approximately $30 million in the business. Samsung will own the other 90% of the jv company...
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