Samsung aims to be a player in biotech


The South Korean colossus is investing $2B in the biotech arena in an effort to drive growth from its $347B revenue base. Its main initial focus will be biosimilars with a planned 2016 launch in Europe of an Enbrel biosimilar and a 2017 launch of a Remicade biosimilar.

The global market for biosimilars, while lagging in the U.S. due to regulatory uncertainty, is expected to grow to $24B by 2019.

According to unit chief Christopher Hansung Ko, "Our mandate is to become No. 1 in everything we enter into, so our long-term goal is to become a leading pharmaceutical company in the world."

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Comments (8)
  • duhaus
    , contributor
    Comments (320) | Send Message
     
    I'm certain they'll try to specialize on the low margin drugs so they can tout their "gaining market share" claim in this industry as well. Good luck with that.
    12 May 2014, 02:06 PM Reply Like
  • DWD Investing
    , contributor
    Comments (12086) | Send Message
     
    That's pretty bold of Samsung, but good for them.
    12 May 2014, 08:12 PM Reply Like
  • GreenGrowthGeek
    , contributor
    Comments (1505) | Send Message
     
    I don't know what the heck they are thinking--can't imagine Apple saying something as ludicrous as "we aim to be the number one Pharmaceutical Company in the world." Perhaps Samsung will get the last laugh but this looks like severe over reach to me.
    13 May 2014, 01:19 AM Reply Like
  • amzmeb
    , contributor
    Comments (51) | Send Message
     
    but Apple wants to be a car manufacturer. How is this different?
    27 May 2015, 11:24 PM Reply Like
  • PEMINC
    , contributor
    Comments (159) | Send Message
     
    Its chest thumping and grandiose. Yeah, OK, every company aspires to be tops, and the Koreans have made major inroads in cars and phones. But its really a message for rah-rah internal glad handing. Taken at face value, its stunningly naive - at least for biosimilars that are sold in regulated markets in the West.
    13 May 2014, 11:35 AM Reply Like
  • synergistic_serendipity
    , contributor
    Comments (123) | Send Message
     
    Firstly, long term to them is truly long term, not 2 - 3 years as many western thinkers approach the phrase. More specifically, there is organic growth and there is purchased growth. They certainly have the resources to buy in to the game once they gain a comfort level. I say check back in five years on this story. In the bigger, long term picture, techonological boundaries are blurring.
    13 May 2014, 02:56 PM Reply Like
  • GrowthGeek
    , contributor
    Comments (2035) | Send Message
     
    Sounds more like nationalistic rah rah nonsense to me. I don't think Apple or Google would make a similar claim even if the time frame is ten years so I'm not buying what you are saying. If Samsung has a larger footprint in pharmaceuticals than Johnson and Johnson in your five year time frame Synergistic and Serendipitous person then 2 plus 2 equals 197. I will then acknowledge that I know nothing and will only invest in the market indices ETFs.
    13 May 2014, 04:52 PM Reply Like
  • chenmj
    , contributor
    Comments (851) | Send Message
     
    synergistic_serendipity: technological boundaries are blurring? If you are talking about computer technology and biomedical/biotechnology boundaries blurring, you are wrong. They involve fundamentally different principles. It takes many decades to establish a pharmaceutical company and drugs take a lot longer than 5 years to developed and get approved. It is absolutely impossible for Samsung to become no. 1 drug company in 5 years unless Samsung has the money to buy a large pharma outright, which I doubt it has. But then it has no bragging right to become number 1 if it does. Most established drug companies are a hundred years old and some.
    25 May 2014, 07:34 PM Reply Like
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