Samsung Biologics investing $736 million in manufacturing plant
SEOUL (Reuters) - Samsung Biologics, an unlisted arm of South Korea's Samsung Group, said on Friday it would invest 850 billion won ($736 million) to build a manufacturing facility, as the conglomerate steps up its expansion in the biopharmaceutical sector. Construction of the plant, which will have a capacity of 180,000 litres, is to be completed by September 2018, according to a regulatory filing. Most shares in Samsung Biologics are owned by Samsung C&T Corp <028260.KS> and Samsung Electronics Co Ltd <005930.KS>. Samsung Bioepis Co Ltd, a developer of generic versions of biotech drugs that is 90 percent-owned by Samsung Biologics, said in June it was considering a Nasdaq IPO. (Reporting by Ju-min Park; writing by Tony Munroe; editing by Jason Neely)