Samsung Could Soon Start Producing Pfizer Vaccine
South Korean President Moon Jae-in is in the U.S. this week, and while most of the president's travel plans revolve around the UN General Assembly. Some reports suggest that Moon also plans to meet Albert Bourlar, the CEO of Pfizer, one of the leading pharmaceutical companies globally and a top supplier of the COVID-19 vaccines.
Samsung Could Soon Help Fight the Global Pandemic By Producing Pfizer Vaccines
Earlier this year, Moon and U.S. President Joe Biden agreed on a joint vaccine development agreement between the two countries. Details of this agreement will be revealed this week, following a ceremony. Whatever the case is, this partnership will be held by a $2-billion investment plan that will help South Korea become Asia's largest vaccine production hub.
If you are wondering where Samsung fits into this, the company will play an essential role in research and development. By Samsung here, we mean Samsung Biologics, a Songdo, Incheon-based biotechnology unit of Samsung Group. From the Korean side, this deal also includes the manufacturing force of SK Bioscience based on today's report.
Aside from vaccine production, Chaebol has also been finding the global pandemic on various fronts. They recently introduced a way for Samsung Pay users to store their digital vaccination credentials on their phones. The feature was developed alongside the Common Project Foundation and started rolling out around the world earlier this year.
With that said, we are not sure about how long this project will take, but given Samsung's manufacturing prowess, we might be seeing some updates and progress in the coming months.
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