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news.Samsung Biologics, a leading contract development and manufacturing organization (CDMO), has secured a contract manufacturing deal valued at $1.24bn with an Asia-based pharmaceutical company.
Under the contract, Samsung Biologics will carry out the production being at its biomanufacturing site in Songdo, South Korea. Credit: Samsung Biologics.
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Under the contract, which extends through December 2037, Samsung Biologics will carry out the production at its biomanufacturing site in Songdo, South Korea.
This latest agreement took Samsung Biologics’ accumulated contracts for this year to over $3.3bn, the company noted.
Samsung Biologics president and CEO John Rim said: “We are pleased to strategically collaborate with the Asia-based pharmaceutical company to bring effective, high-quality biopharmaceuticals to the global market.
“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.”
To date, the company partnered with 17 of top 20 pharmaceutical companies globally and is expanding its customer base in key regions, including Japan.
With sales offices already established in the US, Samsung Biologics is planning to open a regional office in Tokyo.
The company also plans to complete the construction works of an antibody-drug conjugate (ADC) facility by this year end.
A fifth plant is scheduled to begin operations in April 2025, which will add an additional capacity of 180kL, bringing the total capacity across Plants 1 to 5 to 784 kL.
