Samsung Biologics signs supply deal with AstraZeneca
Samsung Biologics has signed a three-year supply deal worth $330.8 million with British pharmaceutical firm AstraZeneca.
Under the contract manufacturing deal, Samsung Biologics will produce drug substances and products for AstraZeneca through December 2023. Manufacturing will take place at Samsung’s Plant 3 in Songdo, Incheon. The Korean company noted that contract volume could expand to $545.6 million according to demand.
The two met to sign a letter of intent earlier this year in June.
"At Samsung Biologics, our people share this common purpose to help our clients bring innovative solutions to an array of diseases and we look forward to delivering on our promise to aid in AstraZeneca's ongoing expansion program,” said Dr. Tae Han Kim, CEO of Samsung Biologics.
Samsung’s Plant 3 has the largest production capacity for drug production in a single factory in the world, significantly strengthening AstraZeneca's presence in Asia. It will also allow it to expand opportunities to work with Korean start-ups in the biopharmaceutical firm, it added.
SK Bioscience also signed a deal with AstraZeneca in July as a supplier for its Covid-19 vaccine.
BY SONG KYOUNG-SON [email@example.com]
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