Updated on 30 June 2014
With entry into biosimilars, Dong A Socio Holdings aims to become leaders in the bio market
Singapore: Dong-A Socio Holdings inaugurated their DM Bio plant dedicated to manufacturing biosimilar medicines and medical supplies in an opening ceremony on May 30, at the Songdo District.
DM Bio plant is biopharmaceuticals manufacturing factory that meets the recent cGMP guidelines.
The event saw participation of 150 dignitaries including the chairman, vice chairman and CEO of Dong A Socio Holdings. The opening ceremony involved a plant tour,factory construction progress tour presented by Dong A DM Bio CEO Mr Gang Suhyeong.
The manufacturing unit houses an animal cell culturing and purifying division that could be used to produce specific pharmaceutical ingredients.
The firm plans to produce biosimilar drugs targeting the Korean and Japanese markets.
The first drug that the firm aims to produce would be Herceptin, a cure for breast cancer. The firm aims to release the drug by 2018. Herceptin is a large-scale biopharmaceutical with a global market of $6.88 billion this year.
The company has drugs like Humira and Enbrel that treats arthritis and many others in the pipeline. The firm plans to expand its global businesses through biosimilars and biopharmaceuticals.
Mr Gang Shin-ho, chairman said that bio-pharmaceuticals demanded high technology and expertise in the field. He said that with the completion of DM Bioplant, Dong-A Socio Holdings aims to become leaders in the biomarket.