Samsung Biologics Co. secured two contracts worth $668 million with an undisclosed European pharmaceutical firm, extending its dominance in the contract drug manufacturing sector.
The deals, running through 2031, include a 752.4 billion won ($539 million) agreement and a 178 billion won contract, the South Korean company said Wednesday. The latest partnerships push Samsung’s total contract value this year beyond 5 trillion won ($4 billion), surpassing 2023’s figure by 50%.
CEO John Rim indicated the company would continue investing in manufacturing capabilities while expanding global partnerships. Samsung Biologics, which serves 17 of the top 20 pharmaceutical companies, is strengthening its position with new facilities and services.
The company’s upcoming antibody-drug conjugate facility is scheduled for completion by year-end, while its Bio Campus II expansion progresses with Plant 5 expected to begin operations in April 2025. Once operational, Plant 5 will add 180,000 liters of capacity, bringing the total to 784,000 liters.
Samsung Biologics maintains strong regulatory compliance, having secured 339 global approvals, including 38 from the U.S. FDA and 33 from European regulators.
