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Samsung Biologics' manufacturing deals exceed $2.2 billion this year

Published: 26 May. 2025, 10:20

A Samsung Biologics plant in Incheon [SAMSUNG BIOLOGICS]

Samsung Biologics, the biotech arm of Samsung, said Monday that its contract manufacturing organization (CMO) deals have exceeded 3 trillion won ($2.2 billion) so far this year.

The company secured CMO contracts worth 3.25 trillion won during the January-May period, reaching about 60 percent of its total CMO deals of 5.4 trillion won for all of last year, it said in a press release.

The contracts were largely signed with pharmaceutical companies based in Asia, Europe and the United States, the company added.

A CMO is a company that provides manufacturing services to other businesses on a contractual basis.

To meet rising global demand for biopharmaceuticals, Samsung Biologics has expanded its production facilities.

It currently operates five production plants in Songdo and plans to increase that number to eight by 2032.

To better serve its international clients and strengthen its regional presence, the company opened a sales office in Japan in December, following previous openings in New Jersey and Boston in the United States.

Yonhap