Samsung Biologics announced on September 10 that it has signed a contract worth 350.8 billion won (approximately $2.6 billion) for contract manufacturing of biopharmaceuticals with a European pharmaceutical company. The names of the client and the product are kept confidential due to non-disclosure agreements. The contract is set to last until December 31, 2033.
This year, Samsung Biologics has secured six contracts, bringing its total cumulative orders to $21.9 billion since its inception.
A company representative stated, "We maintain close partnerships with many clients, including most of the top 20 global pharmaceutical companies, and are solidifying our collaborative framework that encompasses the entire process from drug development to commercial production. We plan to focus on attracting new clients and expanding contracts with existing customers in line with the increasing global demand for biopharmaceuticals and the trend of diversifying supply chains."
The company is also expanding its biopharmaceutical production capacity. Its fifth plant in Songdo, Incheon, which has a capacity of 180,000 liters, began operations in April. Following the acquisition of a 60,000-liter plant in Rockville, USA, in March, the total production capacity now stands at 845,000 liters. The company plans to sequentially build its sixth to eighth plants in Songdo.
Recently, Samsung Biologics expanded its business into the peptide sector by acquiring the Swiss Polypeptide Group. Additionally, it plans to open a sales office in the Netherlands soon, following the establishment of offices in the United States (2023) and Japan (2025).
The representative added, "We are continuing our 'three-pillar expansion' strategy, which focuses on increasing production capacity, expanding our portfolio, and enhancing our geographical presence to strengthen partnerships with existing and potential clients. We aim to enhance global customer trust and continuously expand our orders based on our overwhelming production capacity, diversified business portfolio, geographical presence, and quality competitiveness."
* This article has been translated by AI.
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