(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Jisun] Samsung Biologics announced on the 2nd that it has signed a record-breaking contract worth 1.4637 trillion KRW (1.06 billion USD) for contract manufacturing (CMO) with a U.S.-based pharmaceutical company. This deal exceeds 40% of last year's total order amount of 3.5009 trillion KRW.

This contract follows a letter of intent (LOI) signed in June last year, and the final agreement is 1.3164 trillion KRW (947.49 million USD) more than the LOI. The customer's identity and the product name have not been disclosed due to confidentiality agreements. The contract period extends until December 31, 2030.

With this deal, Samsung Biologics has surpassed an annual cumulative order amount of 2.5 trillion KRW within six months. Starting with the first contract in March, the company has signed a total of seven contracts with global pharmaceutical companies, six of which are additional contracts to increase production quantities from existing agreements.

To swiftly meet the increasing demand for biopharmaceuticals, the company is constructing a fifth plant with a capacity of 180,000 liters, set for completion by April next year. Once the fifth plant is completed, Samsung Biologics will have a total production capacity of 784,000 liters.

 

 

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