Samsung Biologics has secured a contract manufacturing deal worth $1.24bn with an undisclosed Asia-based pharmaceutical company.
The terms and responsibilities under the contract have not been announced.
Production is set to take place at Samsung Biologics’ biomanufacturing facility in Songdo, South Korea, with the contract extending through December 2037.
With this agreement, Samsung’s total contracts for 2024 have now surpassed $3.3bn.
Samsung Biologics president and CEO John Rim said: “We are pleased to strategically collaborate with the Asia-based pharmaceutical company to bring effective, high-quality biopharmaceuticals to the global market.
“The deal comes at a significant time as we proactively build on our biomanufacturing capacity to readily support our clients.
“Leveraging our capabilities and proven expertise, we plan to maintain momentum for further expansion by fostering trusted and sustainable partnerships with potential and existing clients for mutual growth, and ultimately help patients with unmet needs.”
Samsung Biologics, a contract development and manufacturing organisation (CDMO), has partnered with several major pharmaceutical companies and is expanding its reach into key regions like Japan.
The company plans to open a regional office in Tokyo to strengthen client relationships, in addition to its sales offices in the US.
By the end of this year, Samsung Biologics is expected to complete the construction of a dedicated antibody-drug conjugate (ADC) facility.
A fifth plant is scheduled to become operational in April 2025, adding 180 kL of capacity, which will bring the total to 784 kL across all plants.
To address emerging health challenges, the Korean CDMO continues to launch new CDO platforms and implement manufacturing technologies for complex projects, including the development and production of multispecifics.
In July, Samsung Biologics signed a $1bn production pact with an unnamed US drugmaker.
In February, the Korean company signed a partnership agreement with LegoChem Biosciences.
Under the deal, the CDMO will provide antibody development and drug substance manufacturing services for LegoChem Biosciences’ ADC programme, aimed at treating solid tumours.
