South Korea approved exports of Moderna Inc.’s COVID-19 vaccine produced by Samsung Biologics Co. in a move that will help the country’s largest conglomerate Samsung Group accelerate the development of its biopharmaceutical business, one of its key next growth engines.
The Ministry of Food and Drug Safety issued marketing authorization for Spikevax, Moderna’s messenger ribonucleic acid (mRNA)-based vaccine manufactured by Samsung Biologics in South Korea, the authority said on Dec. 13.
“The approval is expected to contribute to a stable supply of COVID-19 vaccines in South Korea, helping the country leap into its role as a global vaccine hub,” said the ministry in a statement.
The authorization, the country’s first approval on such a vaccine, officially allows its export and local sales, Moderna and Samsung Biologics said. The Philippines and Colombia authorized emergency use of the vaccine on Nov. 26 and Dec. 2, respectively.
“Our partnership with Samsung Biologics for fill-and-finish manufacturing of the Moderna COVID-19 vaccine is helping us continue to scale up our manufacturing capacity outside of the US," said Stéphane Bancel, the chief executive officer of Moderna.
“Samsung Biologics is growing into a production hub for the COVID-19 vaccine in Asia,” said an industry source. “Its exports are expected to gradually increase.”
The company became a core unit within Samsung Group, succeeding the semiconductor division as a future growth engine, fully supported by the group’s de facto leader and Samsung Electronics Co. Vice Chairman Jay Y. Lee, according to industry sources.
