Merck KGaA (ETR: MRK), the German science and technology company, has commenced construction on a new bioprocessing plant in South Korea with a groundbreaking ceremony. This initiative represents Merck’s largest single investment in the Asia-Pacific region, exceeding USD 300 million. The construction follows a memorandum of understanding with the Ministry of Trade, Industry, and Energy, which was signed in May of the previous year.
The bioprocessing site, expected to be operational around 2026, is designed to provide essential products used in the development of vaccines, cell and gene therapies, and protein-based therapies by biotech companies. This includes dry powder cell culture media. The facility, which will employ approximately 300 people, is strategically sized to meet the needs of clients in South Korea and throughout the Asia-Pacific region.- Flcube.com
