Advertisement
Singapore markets close in 43 minutes

  • Straits Times Index

    3,143.89
    -39.72 (-1.25%)
     

  • Nikkei

    38,471.20
    -761.60 (-1.94%)
     

  • Hang Seng

    16,246.30
    -354.16 (-2.13%)
     

  • FTSE 100

    7,856.78
    -108.75 (-1.37%)
     

  • Bitcoin USD

    63,394.68
    -2,777.32 (-4.20%)
     

  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

  • S&P 500

    5,061.82
    -61.59 (-1.20%)
     

  • Dow

    37,735.11
    -248.13 (-0.65%)
     

  • Nasdaq

    15,885.02
    -290.08 (-1.79%)
     

  • Gold

    2,383.10
    +0.10 (+0.00%)
     

  • Crude Oil

    85.35
    -0.06 (-0.07%)
     

  • 10-Yr Bond

    4.6280
    0.0000 (0.00%)
     

  • FTSE Bursa Malaysia

    1,537.18
    -5.35 (-0.35%)
     

  • Jakarta Composite Index

    7,180.94
    -105.95 (-1.45%)
     

  • PSE Index

    6,404.97
    -157.46 (-2.40%)
     

Samsung Biologics investing $736 million in manufacturing plant

Reuters
Samsung flags are set up at the main entrance to the Berlin fair ground before the IFA consumer electronics fair in Berlin, August 28, 2012. REUTERS/Tobias Schwarz/files

SEOUL (Reuters) - Samsung Biologics, an unlisted arm of South Korea's Samsung Group, said on Friday it would invest 850 billion won ($736 million) to build a manufacturing facility, as the conglomerate steps up its expansion in the biopharmaceutical sector.

Construction of the plant, which will have a capacity of 180,000 litres, is to be completed by September 2018, according to a regulatory filing.

Most shares in Samsung Biologics are owned by Samsung C&T Corp and Samsung Electronics Co Ltd .

Samsung Bioepis Co Ltd, a developer of generic versions of biotech drugs that is 90 percent-owned by Samsung Biologics, said in June it was considering a Nasdaq IPO.

(Reporting by Ju-min Park; writing by Tony Munroe; editing by Jason Neely)