Samsung Biologics(207940) said on the 10th that it signed a contract manufacturing (CMO) deal for biopharmaceuticals worth 350.8 billion won with a European drugmaker. It did not disclose the client or product name due to a confidentiality clause. The contract runs through Dec. 31, 2033.
Samsung Biologics has signed six contracts this year. Since its founding, cumulative orders total $21.9 billion. A Samsung Biologics official said, "We signed a long-term contract amid challenging internal and external conditions," adding, "We plan to strengthen our mid- to long-term revenue base."
Samsung Biologics is expanding its biopharmaceutical production capacity. Plant 5 in Songdo, Incheon, with a capacity of 180,000 liters, began operations in April. With the acquisition in March of the Rockville, U.S., plant (60,000 liters), the company secured total capacity of 845,000 liters. The company plans to sequentially build Plants 6 through 8 in Songdo.
Samsung Biologics recently expanded into peptides by acquiring Switzerland's PolyPeptide Group. Peptides are raw materials for obesity and diabetes treatments. Following the United States (2023) and Japan (2025), Samsung Biologics will soon open a sales hub office in the Netherlands. A company official said, "We are establishing bases in the three major markets of the United States, Asia and Europe."