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Samsung Biologics continues to expand for sustainable future | Highlights from J.P. Morgan Healthcare Conference 2023
During the 41st Annual J.P. Morgan Healthcare Conference in San Francisco, Samsung Biologics shared its 2023 business plans to continue expansions based on its three-dimensional growth strategy in capacity, geography, and portfolio diversification. In this article, we’ll delve deeper into our vision and key activities to build a more sustainable future.
Presentation on the main track
After a three-year hiatus due to COVID-19, the annual J.P. Morgan Healthcare Conference was back in person, with some 9,000 investors and 500 bio companies from over 50 countries taking part. Samsung Biologics was again invited to present in the main track – where John Rim, President & CEO of Samsung Biologics, shared major achievements from 2022 and the company’s future growth strategy.
| Key Business Highlights from 2022 |
** Posted record sales of over 2 trillion won as of Q3
** Commenced partial operations at Plant 4 within 23 months since groundbreaking
** Acquired land (357,000㎡) for Bio Campus II
** Launched CDO platforms S-DUALTM and DEVELOPICKTM; Established mRNA DS production facility
** Awarded the Terra Carta Seal from the Sustainable Markets Initiative; Joined the RE100 initiative
“We will maintain our lead in manufacturing capacity with the full completion of Plant 4 in mid-2023, and invest another 7.5 trillion won in Bio Campus II,” said John Rim, CEO and President of Samsung Biologics. “We are also considering expanding our CDMO services to include antibody-drug conjugate (ADC) and gene therapy.”
As part of the company’s global expansion strategy, Rim shared plans to open a new regional office in New Jersey, USA in 2023 to work in close proximity to clients and continue to evaluate expansion to other locations.
| Key Strategies for 2023 |
** 604,000L manufacturing capacity upon completion of Plant 4
** Kickoff plans for Bio Campus II
** Portfolio expansion to ADC, gene therapy; Development of proprietary CDO technology
** Investment in innovative biotech companies through the Life Science Fund
** Opening New Jersey office for better communication with US clients; Evaluate further global expansion
Highlighted trends and strategies
The J.P. Morgan Healthcare Conference is considered the premier conference where attendees can get a glimpse of upcoming industry trends, with hundreds of companies sharing their achievements and plans for research and development.
Samsung Biologics is paying attention to three key trends and plans to implement strategies accordingly based on its three-dimensional growth strategy.
· Innovative expansion: Bio and pharmaceutical companies that profited from the pandemic are seeking new growth engines. Some are investing in research and development and incorporating AI technology to develop new drugs, while others are finding ways to add on to their pipelines. Although high interest rates are expected to slow the global economy, cash-rich pharmaceutical companies are expected to actively engage in mergers and acquisitions this year.
· Modality diversification: Driven by advancements in life science-related technology, ADC, mRNA, and cell and gene therapy (CGT) are expected to see fast growth. In particular, the global CGT market is expected to grow at a yearly average of 49% to reach $55.6 billion in 2026, from $7.5 billion in 2021, according to research firm Evaluate Pharma. More strategic partnerships with experienced CDMOs are expected due to the rising need in treatments for illnesses that once seemed incurable and as precision medicine becomes a new frontier for healthcare thanks to the diversification in modalities
· Sustainable management: Global healthcare organizations are taking joint action against climate change due to the considerable health implications. As the U.S. and Europe strengthen environment-related regulations, sustainable management is no longer an option, but a must. The healthcare industry accounts for around 4-5% of total greenhouse gas emissions (GHG) with more than 50% occurring within the healthcare supply chains. Samsung Biologics has already committed to achieving net zero in GHG emissions in its operations and entire supply chain by 2050 or earlier, and will transition its site to 100% renewable electricity.
Together, for the Future
Samsung Biologics also used the healthcare conference to engage with existing and new potential clients. The company hosted an exclusive networking reception for key clients to discuss partnerships, as well as meetings with investors and partners.
Samsung Biologics plans to further bolster its network and partnerships in the new year to swiftly provide high-quality biopharmaceutical products across the world. We are looking forward to the bright opportunities ahead as we continue to build a healthier and more sustainable tomorrow.
We thank everyone who connected with us at this year’s J.P. Morgan Healthcare Conference and look forward to building a meaningful partnership.
Related Content
During the 41st Annual J.P. Morgan Healthcare Conference in San Francisco, Samsung Biologics shared its 2023 business plans to continue expansions based on its three-dimensional growth strategy in capacity, geography, and portfolio diversification. In this article, we’ll delve deeper into our vision and key activities to build a more sustainable future.
Presentation on the main track
After a three-year hiatus due to COVID-19, the annual J.P. Morgan Healthcare Conference was back in person, with some 9,000 investors and 500 bio companies from over 50 countries taking part. Samsung Biologics was again invited to present in the main track – where John Rim, President & CEO of Samsung Biologics, shared major achievements from 2022 and the company’s future growth strategy.
| Key Business Highlights from 2022 |
** Posted record sales of over 2 trillion won as of Q3
** Commenced partial operations at Plant 4 within 23 months since groundbreaking
** Acquired land (357,000㎡) for Bio Campus II
** Launched CDO platforms S-DUALTM and DEVELOPICKTM; Established mRNA DS production facility
** Awarded the Terra Carta Seal from the Sustainable Markets Initiative; Joined the RE100 initiative
“We will maintain our lead in manufacturing capacity with the full completion of Plant 4 in mid-2023, and invest another 7.5 trillion won in Bio Campus II,” said John Rim, CEO and President of Samsung Biologics. “We are also considering expanding our CDMO services to include antibody-drug conjugate (ADC) and gene therapy.”
As part of the company’s global expansion strategy, Rim shared plans to open a new regional office in New Jersey, USA in 2023 to work in close proximity to clients and continue to evaluate expansion to other locations.
| Key Strategies for 2023 |
** 604,000L manufacturing capacity upon completion of Plant 4
** Kickoff plans for Bio Campus II
** Portfolio expansion to ADC, gene therapy; Development of proprietary CDO technology
** Investment in innovative biotech companies through the Life Science Fund
** Opening New Jersey office for better communication with US clients; Evaluate further global expansion
Highlighted trends and strategies
The J.P. Morgan Healthcare Conference is considered the premier conference where attendees can get a glimpse of upcoming industry trends, with hundreds of companies sharing their achievements and plans for research and development.
Samsung Biologics is paying attention to three key trends and plans to implement strategies accordingly based on its three-dimensional growth strategy.
· Innovative expansion: Bio and pharmaceutical companies that profited from the pandemic are seeking new growth engines. Some are investing in research and development and incorporating AI technology to develop new drugs, while others are finding ways to add on to their pipelines. Although high interest rates are expected to slow the global economy, cash-rich pharmaceutical companies are expected to actively engage in mergers and acquisitions this year.
· Modality diversification: Driven by advancements in life science-related technology, ADC, mRNA, and cell and gene therapy (CGT) are expected to see fast growth. In particular, the global CGT market is expected to grow at a yearly average of 49% to reach $55.6 billion in 2026, from $7.5 billion in 2021, according to research firm Evaluate Pharma. More strategic partnerships with experienced CDMOs are expected due to the rising need in treatments for illnesses that once seemed incurable and as precision medicine becomes a new frontier for healthcare thanks to the diversification in modalities
· Sustainable management: Global healthcare organizations are taking joint action against climate change due to the considerable health implications. As the U.S. and Europe strengthen environment-related regulations, sustainable management is no longer an option, but a must. The healthcare industry accounts for around 4-5% of total greenhouse gas emissions (GHG) with more than 50% occurring within the healthcare supply chains. Samsung Biologics has already committed to achieving net zero in GHG emissions in its operations and entire supply chain by 2050 or earlier, and will transition its site to 100% renewable electricity.
Together, for the Future
Samsung Biologics also used the healthcare conference to engage with existing and new potential clients. The company hosted an exclusive networking reception for key clients to discuss partnerships, as well as meetings with investors and partners.
Samsung Biologics plans to further bolster its network and partnerships in the new year to swiftly provide high-quality biopharmaceutical products across the world. We are looking forward to the bright opportunities ahead as we continue to build a healthier and more sustainable tomorrow.
We thank everyone who connected with us at this year’s J.P. Morgan Healthcare Conference and look forward to building a meaningful partnership.
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