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[Alpha Biz=(Chicago) Reporter Paul Lee] Samsung BioLogics has signed a consignment production contract (CMO) worth about KRW 535 billion with U.S. pharmaceutical company Pfizer. It is the largest on a single contract scale.
At the same time, the two companies announced a strategic partnership for long-term consignment production of multi-products. Samsung BioLogics announced on the 8th that it has signed a letter of intent for the CMO worth about 535 billion won with Pfizer. It is about 17.83% of last year's sales of about 3 trillion won.
Samsung BioLogics said, "If we sign the main contract in the future, we will disclose the confirmed details," adding, "It is the largest on a single contract basis." Samsung BioLogics also announced a strategic partnership with Pfizer for long-term consignment production of various medicines.
The two companies have been expanding their cooperation since they first signed a consignment production contract for one product in March. Samsung Biologics and Pfizer signed an CMO contract worth about 241 billion won from February 20 to December 31, 2029.
Under the additional deal, the company will commission Pfizer's diverse portfolio of biosimilars, which includes tumors, inflammation and immune treatments, at its recently completed four plants.
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