Passion for health: How Samsung Bioepis is using innovation to meet growing health care needs
- Science and technology are driving innovations to increase patient access to cost-effective treatments
- Amid the pandemic, strategic positioning of manufacturing and storage sites allowed Samsung Bioepis to respond quickly to market dynamics
With the prolonged impact of Covid-19 across the health care sector and throughout the globe, everyone has been affected in some way. The pandemic has tested our economies and our health care systems, as well as our everyday lives.
The unprecedented impact of Covid-19 on health care systems has changed the landscape of the pharmaceutical industry. The need for cost-effective treatments to ease the financial burden is greater than ever, and limited financial resources must be allocated to protecting health.
There will always be a need for individuals to have access to affordable, reliable health care systems and the treatments they can provide.
Samsung Bioepis is a biopharmaceutical company dedicated to the development of biosimilar medicines, and is committed to improving the accessibility of treatments for patients around the world. The company’s mission is reflected in its name – “bio” is taken from the Greek word for life, while “episteme” is the Greek word for science.
Biologic drugs are composed of compounds and molecules taken from living organisms; biosimilars are biologic products that are highly similar to existing biologic drugs – known as reference products, and have no clinically meaningful differences when compared to their reference products in terms of safety, purity and potency, according to the US Food and Drug Administration (FDA). Biosimilars typically cost less than reference products to produce as the path to their approval is shorter, which reduces their development costs. This is because biosimilars take a step-by-step approach to demonstrate biosimilarity, and do not require as many expensive and lengthy clinical trials.
