How Samsung successfully invaded the drug manufacturing space
Here’s how an Alien Invader can enter a completely different market space that leverages their existing talent, resources and know-how. Samsung Biologics has done just that. It entered the Contract Drug Manufacturing (CDMO) space and is poised to take major share and profits from that marketplace becoming a dominating competitor.
If you’re a competitor, a supplier, a consumer, or you provide products in this marketplace, understanding this evolution will help your response.
Historically, Samsung was known for chemicals and heavy manufacturing. Its move into LCD panels, TVs and semiconductors seems an easy jump from its origins by comparison with its entry into complex drug and biologics not as obvious.
EkaLore’s Alien Invader framework is a quick way to characterize enterprises which leap across categories, change the rules, and steal profit and share from market incumbents. The key ingredients are resources (capital), know-how, and tech. Samsung had all three. That allowed them to go from a small joint venture with Quintiles in 2011 ($30M of $266M at startup, now just a $1M investor), to a dominating market player in 2022.
The next post talks about three fateful choices that Samsung Biologics made to drive their growth.
Find more Alien Invader posts at www.ekalore.com/alien-invaders
If you’d like to learn more about the Alien Invader Framework and find out how it might relate to you or your competitor’s business www.ekalore.com/contact
Commentaires