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Samsung starts investing in the pharmaceutical industry
Overtaking Apple sales and moving their smart phones to number one in the world, Samsung turned its attention to the pharmaceutical industry, Bloomberg reports.
South Korea's largest company invests $ 2 billion in biopharmaceuticals, including a growing segment of the production of biosimilars - cheaper versions of known drugs that have lost their patent protection. Assessing the high degree of saturation of the electronics market, Samsung's top management decided to switch to new industries for themselves, in which growth is still possible.
As Christopher Hansun Ko, CEO of Samsung Bioepis, said, "We are just getting started, but we are Samsung, so we have to become the world's leading pharmaceutical company."
Sales in the pharmaceutical sector of the economy can reach $ 24 billion by 2019, and the international market, including the US, will grow exponentially. Samsung has already become the largest biotechnology company in South Korea.