What does a company do when it ranks in the top in the industry? How can it continue to be the best and expand? Samsung Biologics, one of the leading biopharmaceutical companies in the world, seeks to answer this question in the best way they can: with an emphasis on quality and quantity at the same time.
Biopharmaceutical companies and CDMOs offer valuable services that hold the key to returning the world to normal after a global pandemic overturned everything. Through their ability to manufacture and distribute life-saving medication, therapies, and vaccines to the people that need them, companies like Samsung Biologics offer medical researchers and labs the valuable gift of being able to focus on more innovative research and less supply and demand. By making sure the product is of top quality every single time, Samsung Biologics allows the rest of the world to experience the best medical care possible, thereby doing the world another favor.
But where do you go when you’re at the top? Samsung Biologics believes it’s only an opportunity to keep trailblazing forward. The company’s new slogan mirrors this sentiment, “Driven. For Life,” revealed at its tenth anniversary celebration. CEO John Rim stated, “”Ten years ago, we had the vision to enrich people’s lives through technology and innovation. Now heading into the next decade, we see a clear path before us. Our 2030 vision is to become a global top tier biopharma company, with the mission to make high quality, safe treatments more accessible to patients around the world.”
He also said, “Samsung Biologics does not just develop and manufacture products, but produces life-saving solutions. We are driven, for life.”
New Expansions Means New Patients to Help
At the 2021 J.P. Morgan Healthcare Conference, Samsung Biologics detailed its plans to grow as a global company in the years to come. With its vast portfolio of success and powerful partnerships with other companies, it’s no wonder the Korean company has won the CMO Leadership Awards for seven years in a row. The key to the Asian market for vaccines and medical care lies with Samsung Biologics.
However, the plan to expand doesn’t just stop with Asia. Samsung Biologics will be opening R&D centers in China, Boston, San Francisco, and Europe. Rim stated, “In the long term, we will solidify our position as a champion in the CMO, CDO, and biosimilar fields, and explore the new areas of drug business based on accumulated innovative technology and experience,” Rim shared.”
Innovation plays a role in this expansion as well. Two tools gave the company great success in 2020: flexibility and innovation. A new digitized system known as the Enterprise Quality Unified Information System allows clients and partners to be able to access the information they need at any time. Furthermore, the system has also brought cGMP recording tracking, documentation, and assessment to a whole new level.
These new expansions build on a massive year of success from 2020. In the final quarter, it was revealed that Samsung Biologics had experienced a 66 percent increase in revenue from the previous year, despite the pandemic and all the troubles it brought the world of finance.
Seeking Partnerships with the Best in the Business
Part of the plan for expansion includes adding even more clients and contracts to Samsung Biologics’ already vast portfolio. The company partnered with such companies as AstraZeneca, TG Therapeutics, and Eli Lilly.
With AstraZeneca, Samsung Biologics sought to manufacture COVID-19 vaccines for the Oxford-based company and researchers. But the partnership went even further. AstraZeneca EVP Pam Cheng said of the partnership, “This long-term partnership with Samsung Biologics strengthens our manufacturing capabilities, and ensures we are well-positioned to continue to deliver our exciting portfolio of new and established biologics medicines to patients with quality, speed and efficiency.”
For Eli Lilly, the contract focused on manufacturing a COVID-19 therapy drug meant to treat patients already suffering from the effects of the deadly virus. Bamlanivimab was approved by the U.S. FDA after studies showed it dramatically reduced the effects of the virus on patients who were in intensive care due to COVID-19.
Furthermore, Samsung Biologics’ efforts did not just stop at COVID-19. Other diseases received just as much attention. The company partnered with TG Therapeutics to produce ublituximab, a medication meant to treat those suffering from multiple sclerosis. CEO of TG Therapeutics Michael S. Weiss said of the expansion to the already-existing contract, “Samsung is the global leader in biologics manufacturing and we are happy to have them as our partner as we look forward to the potential commercialization of ublituximab across both oncology and autoimmune indications.”
The Potential for More Contracts
In a world where global companies and nations must work together to end the spread of COVID-19 and bring the markets back to normal again, Samsung Biologics plays a vital role to the Asian markets. Reports that Samsung Biologics CEO John Rim will accompany President Moon Jae on a trip to meet with U.S. president Joe BIden only serve to show how crucial the biopharmaceutical company is to world affairs.
Korean Chief Policy Secretary Lee Ho-seung said that the United States is looking at South Korea as a new medium for vaccines around the globe. Pfizer and Moderna, two of the producers of the world’s most relied on and sought after COVID-19 vaccine, are looking to build in South Korea, close to where Samsung Biologics is located. Moderna is already looking to purchase land on Yeongjong Island, near Incheon International Airport.
“Samsung Biologics could play a greater role as it already produces vaccines at its manufacturing plants in South Korea on a contractual basis. What Samsung wants is to acquire some patented technology not just to win vaccine production orders from Pfizer and Moderna, but to expand its supply lines in Asia and Europe,” said a senior executive to the Korea Times.