Samsung Biologics said today it has acquired its first U.S. drug manufacturing facility. The asset will be sold by GSK. The deal is valued at $280 million. The goal of the South Korean manufacturer is to meet long-term demand in the US market.
The deal is being implemented by Samsung Biologics America, notes xrust. 100% of the shares will be sold by the American Human Genome Sciences. The South Koreans are also planning additional investments to expand the production capacity of the enterprise. Today, its capacity is 60,000 liters of finished pharmaceutical substance.
In accordance with the agreement with the United States, duties on imports of South Korean pharmaceutical products will not exceed 15%, while generics will be exempt from duties.
Xrust Samsung Biologics will acquire a drug manufacturing facility in the United States
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