Samsung Biologics Signs New 434.3 Billion Won Contract with Global Pharma Company

Contract runs through December 31, 2031
Nine orders secured so far this year

Samsung Biologics has won a contract to manufacture biopharmaceuticals worth more than 400 billion won. The company is seen as having strengthened its medium- to long-term revenue base by securing a long-term contract running through 2031.

A view of Samsung Biologics' Plant 4 in Yeonsu-gu, Incheon. The Asia Business Daily database.

On November 3, Samsung Biologics disclosed that it had signed a biopharmaceutical contract manufacturing agreement worth $324.8 million (434.3 billion won) with a global pharmaceutical company. The contract runs through December 31, 2031. The customer and product names were not disclosed under a confidentiality clause.

The agreement brings Samsung Biologics' total number of orders disclosed this year to nine. Its cumulative orders since its founding amount to approximately $22.3 billion. Samsung Biologics works with most of the world's top 20 pharmaceutical companies, partnering with them from drug development through commercial production.

Samsung Biologics is strengthening its competitiveness in winning contracts through its "three-pillar expansion" strategy, which expands its production capacity, business portfolio and geographic footprint. While increasing production capacity to meet growing demand for biopharmaceuticals, it is also broadening its business into areas such as antibody-drug conjugates (ADCs) and peptides. In August, it opened a European sales office in the Netherlands, establishing sales bases in the three major markets of the United States, Japan and Europe.

A Samsung Biologics representative said, "In response to growing global demand for biopharmaceuticals and the trend toward supply chain diversification, we will continue to attract new customers and expand our contracts with existing customers."

This content was produced with the assistance of AI translation services.