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Biotechnology

Samsung Biologics to invest $1.5bn for new pharmaceutical plant

South Korean company predicts long-term growth in contract drugmaking business

Samsung Biologics is betting on prolonged growth in the contract drugmaking business. (Photo courtesy of Samsung Biologics)

SEOUL -- Samsung Biologics announced Tuesday that it will invest 1.74 trillion won ($1.5 billion) to build a fourth pharmaceutical plant in Incheon as the company expects demand for contract drug manufacturing to surge in coming years.

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