Samsung merger to drive growth in biopharmaceutical business
IndustryJul 20, 2015
Boosted by the successful merger of Samsung C&T and Cheil Industries last week, Samsung Group is geared to step up its efforts to expand and develop its biopharmaceutical business, seen by the group as a future growth engine. The $8 billion merger has tightened the group’s grip on Samsung BioLogics, the conglomerate’s biopharmaceutical business unit. The merged firm now owns 51.2 percent of the pharmaceutical company, combining a 46.3 percent stake held by Cheil Industries with Samsung C&T’s 4.9