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Samsung Biologics inks $77M deal with U.S. pharmaceutical

Published: 18 Dec. 2024, 18:24 Updated: 18 Dec. 2024, 18:39

LEE JAE-LIM
[email protected]

Samsung Biologics' fourth CMO plant in Songdo, Incheon [SAMSUNG BIOLOGICS]

Samsung Biologics has signed a contract worth 111.2 billion won ($77 million) with an undisclosed U.S. pharmaceutical firm to provide contract manufacturing organization (CMO) services.

The deal represents 3.01 percent of the U.S. company’s annual revenue last year, with its name remaining confidential for now, according to Samsung Biologics’ electronic disclosure on Tuesday.

The company’s identity will be disclosed on Oct. 2, 2030, upon the contract’s expiration.

Last month, the Korean company made two CMO deals valued at 930.4 billion won with an unnamed European biopharmaceutical company, with total accumulated orders exceeding 5 trillion won, its highest-ever figure.

Among these major deals are a $1.06 billion contract signed in July with an undisclosed U.S. pharmaceutical company and a $1.2 billion agreement with an unnamed Asian pharmaceutical company in October.

Samsung Biologics currently operates four CMO plants in Songdo, Incheon, with a fifth facility under construction scheduled to begin operating from April of next year.

BY LEE JAE-LIM [[email protected]]