Shortcut to Body Shortcut to main menu

News & Event

  • Home
  • News
  • News & Event
Global pharma Merck to build new bioprocessing production facility in S. Korea

According to Yonhap News,

Global pharmaceutical company Merck Life Science said Thursday it will invest some 300 million euros (US$328.2 million) to build a new bioprocessing production facility in South Korea.

The European bio firm plans to build a 43,000 square-meter center in Daejeon, about 140 kilometers south of Seoul, equipped with production, distribution and storage facilities to support the development and manufacturing of drug products of biotech companies across the Asia-Pacific region, according to company officials.

The plan, Merck's biggest-ever investment in the region, came after the company signed a memorandum of understanding with Seoul's industry ministry and the Daejeon city government for the project last year.

"South Korea is where various institutions with outstanding level of research, manufacturing and service capacities in the field of biopharmaceutical development are located," Merck CEO Matthias Heinzel said.

Merck currently has a life science operation center and a lab collaboration center in Incheon, just west of Seoul.

Source Text

Copyrights Yonhap News. All Rights Reserved.
Reprint or redistribution without permission is prohibited.

Source: Yonhap News (March 21, 2024)