Samsung Electronics Co. Vice Chairman Lee Jae-yong (L) poses for a photo with Noubar Afeyan, a co-founder and chairman of the biotechnology company Moderna, during their meeting in Cambridge, Massachusetts, on Nov. 16, 2021, in this photo released by Samsung.
SEOUL, May 7 (Korea Bizwire) — Samsung Electronics Executive Chairman Lee Jae-yong has recently met with leaders of global pharmaceutical companies in the United States, the company said Sunday, in line with its efforts to find new growth engines beyond semiconductors.
Lee held the series of meetings with CEOs from five major companies: Joaquin Duato of Johnson & Johnson, Giovanni Caforio of Bristol Myers Squibb, Noubar Afeyan of Flagship Pioneering, Chris Viehbacher of Biogen Inc. and Kevin Ali of Organon & Co.
“The series of meetings between Lee and leaders in the biotechnology sector is aimed at further developing the company’s global cooperation throughout the industry, with a goal of fostering it as the second semiconductors,” Samsung said in a release.
Samsung Electronics did not provide further details of the separate meetings but noted that they shared opinions of bolstering competitiveness in the biotechnology industry, as well as fostering new businesses.
Lee also met with the employees of Samsung’s U.S. operations.
“The starting point is not important, as it is the bold and consistent challenge that determines victory and defeat,” Lee was quoted as saying in the release during the meeting, calling for the staff to harness what he calls the “success DNA of the semiconductor sector” in the biotechnology segment.
Samsung established Samsung Biologics Co. in 2011, followed by Samsung Bioepis — the joint venture set up with Biogen — in 2012, in line with efforts to find a new growth engine.
In 2022, Samsung Biologics reached a deal with Biogen to purchase the U.S. drugmaker’s entire stake in Samsung Bioepis for US$2.3 billion.
(Yonhap)
