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You are here: Home / Misc. / Samsung enters in a joint venture with another healthcare company

Samsung enters in a joint venture with another healthcare company

February 25, 2011 By kunal Leave a Comment


 

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.

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