COVID-19 made medical care a top priority, showing that to protect people from future pandemics, medical research, vaccines and a stable biopharmaceutical manufacturing and production structure were integral for survival.
Samsung Biologics, unphased by the challenges of the pandemic, plotted a bold investment that would help pave the way for future growth beyond the post-COVID-19 era.
A post-pandemic future includes a strong healthcare industry, where researchers, manufacturers, and distributors work together to assist the seven billion people in the world with their medical needs and requirements. It includes the generation of more jobs, fostering bio-talent, and the implementation of ESG stewardship. Under its expansion push, CDMO Samsung Biologics is working hard to make that vision a reality.
Paving The Way for Future Growth
In the summer of 2021, Samsung Group revealed a $205 billion plan to make South Korea a leader in different realms of technology. Samsung Biologics, an affiliate company, will participate in this plan as well.
The leading CDMO stated that it planned to foster talent in the industry as well. The supply chain for medical goods will become more resilient through localization, creating a more dependable business strategy for their clients . Furthermore, tech support would be provided to biotechs, according to Samsung Biologics.
The number of current employees has also already risen, according to some analysts. Samsung Biologics has already increased its numbers by more than 25 percent in the last six months. New contracts for the leading CDMO means new jobs and new positions, as well as the need for more workers to quickly turn out quality products in little time.
In May, Samsung Biologics announced that it had entered into a Manufacturing Services and Supply Agreement with major vaccine producer Moderna to offer its state of the art large scale, commercial fill-finish manufacturing for mRNA-1273, Moderna’s COVID-19 vaccine.
Samsung Biologics also announced that it would bring mRNA vaccine drug substance manufacturing to its plant in Songdo, South Korea, as well.
“We recently announced plans to add an mRNA drug substance suite to our site by the first half of 2022 to diversify our service offerings. We see great potential for mRNA technology to address a broader range of diseases, beyond COVID-19,” said Senior Vice President, Chief Information and Marketing Officer, and Head of Investor Relations James Choi in an interview.
Commitment to ESG and Sustainability
In the new, post-pandemic world, conscious investors, executives, and business owners all want to work towards a clean environment and healthy communities, while addressing the needs of its shareholders, employees, and company leaders alike. Environmental, Social and Corporate Governance (ESG) focuses on finding answers to the question, “How do we do that?” Any company with the future in mind will work to achieve a certain level of ESG.
Samsung Biologics has taken several steps towards ESG stewardship and integrating sustainability into its business model. . The company has made it its mission to build a better world through high-quality biopharmaceuticals that help patients around the world. Through vaccines, therapy treatments, and other forms of preventative and restorative medicine, Samsung Biologics started out to help people, and it intends to keep the company on that track.
As part of the global logistics supply chain, Samsung Biologics understands that more is at stake than just profit and revenue. Therefore, it has set its agenda in all three parts of ESG, expanding its eco-friendly investment in project facility and energy reduction, participating in the Carbon Disclosure Project, growing with its local community, and taking part in the National Institute for Bioprocessing Research & Training (NIBRT).
In the past year, Samsung Biologics has also strived for demonstrable quality when it comes to its services and production capacity. In June 2021, the biopharmaceutical company announced that it had received four global ISO certifications: ISO22301 (Business Continuity Management), ISO50001 (Energy Management), ISO45001 (Occupational Health and Safety Management), and ISO14001 (Effective Environmental Management) from the British Standards Institution (BSI).
“We are extremely proud to obtain four global ISO certifications during a time where a high degree sustainable management system is vital, especially in light of COVID-19, to stably operate and supply crucial biomedicines for patients,” John Rim, CEO of Samsung Biologics, said of the four certifications. “Samsung Biologics is a leading CDMO committed to taking responsibility and consideration of ESG factors across all of our business areas, and we will continue to enhance our capabilities to meet the evolving needs of clients whilst ensuring the safety and security of not only our people but also of the environment to ultimately create a better future for humanity.”
