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Pharmaceuticals

Samsung Biologics snags $1.5bn in orders on pandemic rush

South Korean drug-making powerhouse sees stock price double this year

Samsung Biologics plans to build its fourth plant in the South Korean city of Incheon to handle a rush of orders amid the coronavirus pandemic. (Photo courtesy of Samsung Biologics)

SEOUL -- Samsung Biologics closed $1.5 billion worth of orders in the past three months, as the world's leading contract biopharmaceutical manufacturer topped its sales for all of 2019 by 150% due to the coronavirus pandemic.

The South Korean company most recently signed a $314 million deal with an undisclosed European client.

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