SOUTH KOREA – Samsung Biologics has secured a US $668 million manufacturing contract with an unnamed Europe-based pharmaceutical company.
This deal further strengthens its reputation as a leading contract development and manufacturing organization (CDMO).
This deal, announced on November 20, 2024, builds on Samsung Biologics’ impressive track record of partnerships with 17 of the world’s top 20 pharmaceutical companies.
The South Korean CDMO has consistently formed strategic alliances with both industry giants and emerging biotech firms. Early collaborations include agreements with Roche and Bristol Myers Squibb in 2013.
During the pandemic, Samsung Biologics played a crucial role by partnering with GSK in May 2020 on a US $231 million contract to manufacture biological therapies, including the lupus drug Benlysta (belimumab).
This partnership expanded with a US $296 million follow-up deal in 2022. Samsung Biologics has also supported smaller companies.
In 2023, it partnered with European venture capital firm Kurma Partners to assist its portfolio companies with chemistry, manufacturing, and control (CMC) development services.
In July 2024, the company secured a US $1.05 billion partnership with a U.S.-based pharmaceutical firm, set to run through 2030.
This was followed in October 2024 by a US $1.2 billion agreement with an Asia-based drugmaker, extending until December 2037.
The latest US $668 million agreement will run through 2031, contributing to Samsung Biologics’ cumulative new contract value of over US $4 billion for 2024. It also marks the company’s entry into antibody-drug conjugate (ADC) services.
With a dedicated ADC facility slated to become operational by year-end, Samsung Biologics aims to offer comprehensive process development and conjugation services, further diversifying its portfolio.
In addition to manufacturing, Samsung Biologics has made strides in biosimilars through its subsidiary, Samsung Bioepis.
Established in 2012 in partnership with Biogen, Samsung Bioepis became a wholly owned venture in 2022 following a US $2.3 billion acquisition.
In July 2024, the company secured U.S. FDA approval for Epysqli (eculizumab-aagh), a biosimilar to Soliris (eculizumab), originally developed by Alexion Pharmaceuticals.
While other CDMOs have faced challenges in the post-pandemic market, Samsung Biologics has maintained robust growth.
In the third quarter of 2024, the company reported a 15% year-over-year revenue increase to US $857 million (1.2 trillion Korean won), as per the company’s financials.
Samsung Biologics CEO John Rim highlighted the company’s commitment to enhancing its capabilities and technologies to meet global client needs.
“Our goal is to provide the highest-quality services at every stage and deepen our trusted partnerships,” Rim stated.
Although details about the latest contract remain undisclosed, this deal reinforces Samsung Biologics’ standing as a key partner for pharmaceutical companies worldwide.
