Samsung enters in a joint venture with another healthcare company


 

Samsung continues its expansion in the healthcare business by entering into a joint venture with US-based Quintiles Transnational Corp. Samsung will invest 300 billion won or US$266 million and will setup a plant in Songdo district of Incheon, near Seoul to produce biopharmaceutical drugs for cancer and arthritis.

Samsung Electronics and Samsung Everland will own 40 percent each whereas Samsung C&T Corp. and Quintiles owning 10 percent each.

As part of Vision 2020, Samsung will invest about 1.2 trillion in the healthcare business by year 2020.

Via