Samsung Group, the world's leading smartphone maker, is investing at least $2 billion in... biopharmaceuticals? With this foray into the drug industry, Samsung hopes to become a major player in biotechnology, which is expected to be a booming industry in coming years. A key component of this play is so-called biosimilars -- cheap versions of brand-name biotechnology drugs that no longer are protected by patents. Samsung plan to sell its first biosimilar product, a version of the arthritis therapy drug Enbrel, in Europe in 2016.Samsung Invests $2B in Biopharmaceuticals
Samsung Group, the world's leading smartphone maker, is investing at least $2 billion in... biopharmaceuticals? With this foray into the drug industry, Samsung hopes to become a major player in biotechnology, which is expected to be a booming industry in coming years. A key component of this play is so-called biosimilars -- cheap versions of brand-name biotechnology drugs that no longer are protected by patents. Samsung plan to sell its first biosimilar product, a version of the arthritis therapy drug Enbrel, in Europe in 2016.
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