Samsung Biologics ranks as one of the top CDMOs in the world, providing distribution and manufacturing for many pharmaceutical companies during these challenging times. Throughout the COVID-19 pandemic, the company worked with many other partners to help patients suffering from COVID-19 and other illnesses to find hope in new therapies.
Contract development and manufacturing organizations (CDMOs) hold the key to the world’s battle against COVID-19. They possess the capability to distribute life-saving vaccines across the globe. Furthermore, they can handle manufacturing drugs, vaccines, and whatever else is required so that the pharmaceutical companies don’t have to. These contracts give medical researchers and developers the gift of time to create, research, and innovate in the field of inventing new medicines to address chronic health conditions.
Samsung Biologics has spent the year of 2020 building, expanding, and establishing new partnerships, not just maintaining the business it had before the pandemic. Through its leadership, efficiency, and ground-breaking methodology, Samsung Biologics offers the world the best CDMO practices, including formulation, analytical services, , converting, packaging, and shipment.
Recently, Samsung Biologics named John Rim as its new CEO. But Rim had worked with the company for many years before he became the head. For the previous three years, Rim served as Executive Vice President. His main focus was on client satisfaction and global business acumen, which became the calling card for Samsung Biologics. Many partnerships were forged because of these two attributes, the foundation for the company’s reputation.
Rim played a key role in the accelerated manufacturing portfolio, including the development and operational skills at Plant 3, which currently exists as the world’s largest manufacturing capacity at a single site.
The former CEO, Dr. Tae Han Kim, also brought many partnerships into the Samsung Biologics portfolio. The CDMO worked with AstraZeneca in 2020 to manufacture a COVID-19 treatment.
The $330 million contract stated that Samsung Biologics would provide large-scale commercial manufacturing for drug substances to AstraZeneca. This arrangement will help AstraZeneca in its expansion into Asia, where billions of people reside.
CEO Dr. Tae Han Kim said about the deal, ‘At Samsung Biologics, our people share this common purpose to help our clients bring innovative solutions to an array of diseases.’
With Rim in charge, Samsung Biologics has blazed a clear path forward. In an interview, he discussed the company’s plan for future endeavors that would fulfill Samsung Biologics’ mission. A steady and reliable commitment to innovation means more growth, more partnerships, and a multidimensional portfolio. Furthermore, the company plans to build a fourth plant in 2023, which will offer the largest single-site manufacturing capacity of any facility on earth.
Rim said of the new expansions, ‘With a steadfast vision and unrelenting drive to achieve better life for all, we embrace responsibility, expertise, and pride in our work, and will continue on our noble mission to enable improved accessibility of biomedicines and consequently the quality of life for people around the globe.’
When potential partners think of Samsung Biologics, the words ‘efficiency,’ ‘quality,’ and ‘innovation’ come to mind. When Moderna was searching for a CDMO to partner with in order to mass produce the COVID-19 vaccine, reports said that Samsung Biologics was a front-runner in the competition, because of its largest annual production.
Furthermore, after a disastrous 2020 global pandemic, which brought many big companies to their knees, Samsung Biologics remained untouched by the catastrophe, instead bringing more growth and value to the company name.
After a profitable first quarter report in 2021, CEO John Rim stated, ‘Our first-quarter financial performance was in line with our expectations and provides us with a strong start to the 2021 fiscal year. We have maintained a solid performance, and continue to see momentum from our expanding CDMO business globally while simultaneously making continuous advancements in our biosimilar subsidiary and new business models. As the world continues to navigate the difficult times amid COVID-19, we remain committed to supporting our clients and patients in delivering life-saving therapeutics in a timely manner.”
That first quarter brought an increase of 26 percent in revenue compared to the first quarter of 2020. All manufacturing facilities remained fully operational, despite the COVID-19 pandemic.
Samsung Biologics’ cutting edge methodologies are what made the company a strong contender in the first place. During its tenth anniversary, the company revealed its new slogan, ‘Driven. For Life.’
CEO John Rim said, “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.”
It is this attitude that has allowed Samsung Biologics to play a role in the global discussion over vaccines, semiconductors, and more. A senior executive told the Korea Times, ‘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.’
While Samsung Biologics has yet to make any announcements, both Pfizer and Moderna have been reported to be in talks with the Korean CDMO to produce and distribute their COVID-19 vaccines in Asia and other parts of the world.