Samsung Biologics completed a $2 billion IPO in South Korea at an $8 billion valuation. The company, a division of the large Samsung semiconductor conglomerate, has two divisions: a biologics contract manufacturer, and Bioepis, a joint venture with Biogen that makes biosimilar drugs. Samsung Biologics will use the proceeds to complete construction of its third manufacturing facility, a $740 million project, which will give it the biggest capacity of any biologic CMO and is expected to become operational in 2018.
