Samsung Biologics has secured a landmark $1.06 billion contract manufacturing organization (CMO) deal with an unnamed U.S.-based pharmaceutical company, the largest in its history. This significant agreement follows a letter of intent (LOI) signed in June last year, highlighting the growing trust and collaboration between the two firms.
The final contract value saw a substantial increase of $947.49 million from the initial LOI, reflecting the scale and importance of this long-term partnership, which extends until December 31, 2030. Despite the confidentiality of the client’s identity and product details, the deal marks a pivotal milestone for the South Korean biopharmaceutical leader.
John Rim, CEO of Samsung Biologics, emphasized the company’s impressive growth trajectory. “Within just six months, Samsung Biologics has surpassed an annual cumulative order amount of 2.5 trillion KRW,” Rim noted. The company has signed seven contracts with global pharmaceutical giants this year alone, six of which are expansions of existing agreements.
Samsung Biologics boasts an impressive client roster, including 16 of the top 20 global pharmaceutical companies by market capitalization. This latest deal further cements its reputation for reliability and excellence in biopharmaceutical manufacturing.
To meet the rising demand, Samsung Biologics is constructing its fifth plant, with a 180,000-liter capacity, expected to be completed by April 2025. This addition will bring the company’s total production capacity to 784,000 liters, reinforcing its leadership in the industry.
In its drive to innovate, Samsung Biologics is also building a facility dedicated to Antibody-Drug Conjugates (ADC), potent biopharmaceutical drugs for targeted cancer therapies. Set to be operational by year-end, this facility represents the company’s strategic diversification into advanced therapeutic areas.
Samsung Biologics’ commitment to quality is evident in its 278 regulatory approvals and a 99% batch success rate achieved last year. These milestones underscore its adherence to high standards and compliance with global regulations, positioning Samsung Biologics for continued success and leadership in the biopharmaceutical sector.
