Samsung Biologics Announces Major Manufacturing Partnership

Samsung Biologics Partners with European Pharmaceutical Leader

Samsung Biologics (KRX: 207940.KS) has recently made headlines by securing a substantial manufacturing agreement with a prominent European pharmaceutical company. This deal signifies the organization’s commitment to providing top-tier biomanufacturing services and will extend through 2031, with a total value exceeding USD 668 million.

Significant Milestones in Contract Values

The cumulative contract value for Samsung Biologics in 2024 is forecasted to surpass USD 4 billion following these latest agreements. Such milestones reflect the growing trust and collaboration that Samsung Biologics has cultivated with its partners in the biopharmaceutical industry.

Ongoing Expansion of Services

According to John Rim, President and CEO of Samsung Biologics, "We are delighted to expand our partnership with the European pharmaceutical company toward our shared commitment to delivering high-quality biopharmaceuticals to patients." This statement emphasizes the company’s dedication to craftsmanship and technological advancement, demonstrating a proactive approach to meeting the needs of the industry.

Strategic Partnerships Across the Globe

2024 has been a pivotal year for Samsung Biologics as it has successfully established new contracts and solidified relationships with existing clients across the U.S., Asia, and Europe. Currently, Samsung Biologics is proud to partner with 17 of the top 20 pharmaceutical companies worldwide, showcasing its prominence in the biomanufacturing landscape.

Investment in Advanced Facilities and Technologies

As part of its strategy for growth, Samsung Biologics plans to introduce antibody-drug conjugate (ADC) services, which will be operational by the end of the year. This initiative will include a dedicated facility for ADC process development, reinforcing Samsung Biologics’ expertise in biologics and antibody manufacturing.

Continuation of Biomanufacturing Expansion

Furthermore, the company is preparing for the inauguration of Bio Campus II next year, with Plant 5 projected to begin operations by April 2025. This expansion indicates the company’s foresight in meeting the rising demand for biomanufacturing capabilities.

About Samsung Biologics Co., Ltd.

Samsung Biologics is a fully integrated contract development and manufacturing organization (CDMO) that offers a complete suite of services, from cell line development to final aseptic fill and finish. The company prides itself on state-of-the-art, CGMP-compliant facilities equipped with bioreactors of various sizes, catering to diverse client needs. To support its growing operations, Samsung Biologics continues to invest in new technologies, including dedicated facilities for mRNA and ADC manufacturing, ensuring it remains a leading CDMO partner in the biopharmaceutical sector.

Frequently Asked Questions

What recent deal has Samsung Biologics signed?

Samsung Biologics has signed a manufacturing deal with a European pharmaceutical company, valued at over USD 668 million.

How much is Samsung Biologics' cumulative contract value for 2024?

The cumulative contract value for 2024 is expected to exceed USD 4 billion.

What services will Samsung Biologics add to its portfolio?

The company plans to add antibody-drug conjugate (ADC) services, enhancing its capabilities in biomanufacturing.

When will Plant 5 in Bio Campus II be operational?

Plant 5 is projected to be operational by April 2025, reinforcing the company's manufacturing capacity.

How many top pharmaceutical companies does Samsung Biologics partner with?

Samsung Biologics partners with 17 of the top 20 pharmaceutical companies worldwide.

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