Samsung Biologics Inks $1.24 Bn Manufacturing Deal with Asian Pharma Company

Production is set to occur at Samsung Biologics’ biomanufacturing facility in Songdo, South Korea, and will extend through December 2037.

Samsung Biologics, a leading contract development and manufacturing organization (CDMO), has entered into a substantial contract manufacturing agreement valued at $1.24 billion with an Asia-based pharmaceutical company.

This deal marks the largest contract signed by a single client in the company’s history.

Production is set to occur at Samsung Biologics’ biomanufacturing facility in Songdo, South Korea, and will extend through December 2037. This latest agreement pushes the company’s total contract value for 2024 to over $3.3 billion.

“We are pleased to strategically collaborate with the Asia-based pharmaceutical company to bring effective, high-quality biopharmaceuticals to the global market,” said John Rim, president and CEO of Samsung Biologics.

Samsung Biologics has partnered with 17 of the world’s top 20 pharmaceutical companies and is actively expanding its customer base in key regions, including Japan.

Further, the company plans to open a regional office in Tokyo to strengthen its client relationships.

In addition, Samsung Biologics is on track to complete construction of a dedicated antibody-drug conjugate (ADC) facility by the end of this year.

Moreover, a fifth plant, which will increase production capacity by 180,000 liters, is set to begin operations in April 2025, bringing total capacity across all five plants to 784,000 liters.

“The deal comes at a significant time as we proactively build on our biomanufacturing capacity to readily support our clients. Leveraging our capabilities and proven expertise, we plan to maintain momentum for further expansion by fostering trusted and sustainable partnerships with potential and existing clients for mutual growth, and ultimately help patients with unmet needs.” the CEO added.

Samsung Biologics offers fully integrated CDMO services, providing development and manufacturing solutions from cell line development to final aseptic fill, along with laboratory testing services for biopharmaceutical products.

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