- Samsung Biologics has announced new manufacturing agreements worth over USD 668 million, extending through 2031.
- The company’s cumulative contract value for 2024 now exceeds USD 4 billion, strengthening its position as a global leader in contract manufacturing.
Samsung Biologics, a leading contract development and manufacturing organization (CDMO), has signed a series of manufacturing agreements with a European pharmaceutical company, valued at more than USD 668 million. The contracts will run until December 2031, contributing to the company’s total contract value for 2024, which now exceeds USD 4 billion.
The new deals solidify Samsung Biologics’ position as a key player in the global pharmaceutical manufacturing sector. The company has already partnered with 17 of the world’s top 20 pharmaceutical companies, further strengthening its portfolio of long-term agreements. “We are delighted to expand our partnership with the European pharmaceutical company toward our shared commitment to delivering high-quality biopharmaceuticals to patients,” said John Rim, President and CEO of Samsung Biologics.
The agreements also highlight Samsung Biologics’ ongoing expansion of its manufacturing capabilities. In addition to these new contracts, the company is adding antibody-drug conjugate (ADC) services to its portfolio. A dedicated ADC facility is expected to be completed by the end of this year, enhancing its ability to support advanced biopharmaceutical therapies. Furthermore, Samsung Biologics is also preparing for the opening of its Bio Campus II and the operational launch of Plant 5, both planned for 2025.
This latest announcement underscores Samsung Biologics’ continued commitment to expanding its global footprint and providing high-quality services to its customers across the U.S., Asia, and Europe. The company remains focused on supporting the evolving needs of the pharmaceutical industry through strategic collaborations and cutting-edge manufacturing technologies.
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