Samsung to invest 400 million dollars in bio-similar drugs industry

Beijing time July 15 afternoon news, according to foreign media reported today, South Korean media in Wednesday cited the knowledge Economy Minister Li Yunxi, said the Samsung Electronics program in the biological similar drug sector investment of about 500 billion won (about 389 million U.S. dollars).　　Li Yunxi said Samsung Electronics plans to invest about 500 billion won in the area of bio-similar drugs over the next 5 years. Samsung Electronics did not confirm the scale of investment, but said that the field of bio-similar drugs is a new growth opportunity. "We will aggressively enter the market for bio-similarity drugs," said James Chung, a Samsung Electronics spokesman, James Zheng. South Korea's knowledge economy Ministry said in a statement that it had signed a letter of intent to invest in biological-similar industries with several Korean companies, including Samsung Electronics, LG Life Sciences, and the Korean Development Bank. (Zhi Xiang)