Samsung Biologics has signed a KRW 434.3 billion contract manufacturing organization (CMO) agreement—under which it manufactures pharmaceuticals on behalf of a drug company—with a global pharmaceutical firm. This is the ninth contract disclosed this year, bringing the company’s cumulative orders since its founding to USD 22.3 billion.
Samsung Biologics announced on the 3rd that it had signed a new contract manufacturing agreement worth USD 324.8 million (approximately KRW 434.3 billion) with a global pharmaceutical company. The contract runs through 31 December 2031. The client and product name were not disclosed under a confidentiality clause. On the previous day, the 2nd, Samsung Biologics also disclosed that it would increase the value of its supply contract with a U.S. pharmaceutical company by KRW 62.8 billion. The company has thus secured a new contract and an expanded existing contract on two consecutive days.
The company is pursuing a “three-pillar expansion” strategy that simultaneously broadens production, business lines, and geographic footprint through capacity expansion; diversification into antibody-drug conjugates (ADCs) and peptides; and the opening in August of a European sales office in the Netherlands.
Kim Jae-hyeong
AI-translated with ChatGPT. Provided as is; original Korean text prevails.
ⓒ dongA.com. All rights reserved. Reproduction, redistribution, or use for AI training prohibited.
