- Samsung Biologics signs a $1.24 billion contract manufacturing deal with an Asia-based pharmaceutical company.
- The contract, running through December 2037, is the largest single-client deal in the company’s history.
Samsung Biologics, a global contract development and manufacturing organization (CDMO), has secured a $1.24 billion contract manufacturing agreement with an unnamed Asia-based pharmaceutical company. The deal, which runs until December 2037, is the largest contract ever signed by a single client and will take place at the company’s biomanufacturing site in Songdo, South Korea.
John Rim, President and CEO of Samsung Biologics expressed enthusiasm about the partnership, stating, “We are pleased to strategically collaborate… to bring effective, high-quality biopharmaceuticals to the global market.” This agreement brings the company’s total accumulated contracts for 2024 to over $3.3 billion.
Samsung Biologics has established itself as a key player in the global pharmaceutical landscape, partnering with 17 of the top 20 global pharmaceutical companies. The company is also expanding its footprint in Japan with plans to open a regional office in Tokyo, building on its existing presence in the U.S.
Looking ahead, Samsung Biologics is focused on expanding its manufacturing capacity, with a fifth plant set to open in 2025, increasing its total capacity to 784 kL. The company is also developing innovative contract development and manufacturing platforms to support advanced projects, such as the production of multispecific therapies.
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