Samsung dominates phone market, now making drugs

Samsung has been the dominant player in the mobile phone market, competing head to head with Apple in both the marketplace as well as the courtroom. Soon, they may also become the dominant player at your local pharmacy.

Bloomberg is reporting that Samsung, most known for their various electronic devices, is planning on investing more than $2 billion (with a B) in the biopharmaceuticals market, and will specifically be targeting biosimilars, or drugs that are no longer protected by patents. The market is expected to generate over $220 billion (again with a B) in sales over the next five years, so the company feels there's plenty of money to be made. We suspect that many people will make jokes about Samsung not being able to create anything themselves based on the Apple lawsuits followed by making drugs someone else developed.

While this may sound like a ludicrous idea, it's interesting to note that the company began in 1938 by selling rice, noodles, and produce and it wasn't until many years later that they entered the electronics field. In this case, Samsung isn't abandoning the world of mobile phones, but with profit margins continuing to shrink, the company is simply expanding its portfolio into an area they hope to become proficient at.

Source: Bloomberg | Drug and phone image via Shutterstock

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26 Comments

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So they are going after drugs which are no longer under patent. Going after work somebody already did the legwork for and copying it.

Don't know any anybody would be surprised at this news.

DeltaXray said,
So they are going after drugs which are no longer under patent. Going after work somebody already did the legwork for and copying it.

Don't know any anybody would be surprised at this news.

That's exactly the same thing that other pharmaceuticals do once one of their competitors products go out of patent... Nothing new here... As for Samsung doing this, you do have to start somewhere, andd given they have little to no experience in this industry, it would make sense to start with this... I'm sure once they are comfortable with the industry, we'll see their own developments...

Not sure why people think it's a bad idea, for samsung it's a great idea, they already produce lots of industrial machines, chances are they produce machines for drug manufacture and packaging so they can get said machines at cost price, very worthwhile investment.

I am surprised they waited for the patents to expire. Samsung has a long history across many industries of ignoring patents and rampant copying.

Isn't that a Sony Ericsson phone in the pic?

mastercoms said,
Let's hope the size of the pills don't follow the trend of their phones :p

They could, but it will be like those huge tablets that you dissolve in a glass of water.

I know we are all tech geeks and most likely only know Samsung for their tech en-devours but they have a vastly diversified portfolio of products and services. They are already in the medical field on both sides, why this would be any sort of 'interesting' news IDK?

Samsung is likely the closest we have to a Weyland Yutani/RDA/IMC right now...i mean they're like what, $500 billion in revenue annually and as Zip say they make everything from shoe laces to supertankers