The agreement, disclosed in a regulatory filing on Monday, marks the Korean contract manufacturer's formal entry into peptides, the chemical backbone of the fast-growing class of obesity and diabetes treatments that has reshaped global drug markets.
Its share fell 1.86 percent to 1,370,000 won as of 10:15 a.m. in Seoul on concerns over the fundraising.
Samsung Biologics said it aims to secure a 100 percent stake in PolyPeptide through the purchase of a controlling holding and a subsequent tender offer, with the transaction expected to close by the end of December.
The move pushes the company beyond its core in antibody therapies, mRNA and antibody-drug conjugates into a field it has long signaled it would enter, adding manufacturing sites, technology and skilled staff in a single stroke.
Spun off from Ferring's peptide unit in 1996 and based in Baar, PolyPeptide runs six production and research sites across five countries in Europe, the United States and India, employing about 1,500 workers and carrying a track record of more than 1,000 peptide programs.
"This acquisition reinforces our long-term growth strategy by not only broadening our service portfolio with modality expansion into peptides including GLP-1, but by also boosting our geographic reach and proximity further within the US, Europe, and India," Chief Executive John Rim said, adding the deal would lift both corporate and shareholder value.
Samsung Biologics will inherit PolyPeptide's existing contracts, allowing it to sustain order volumes from the moment the deal closes, while weighing further capacity expansion as peptide demand climbs.
"After a comprehensive review of strategic options, the Board is convinced that Samsung Biologics’ offer is compelling for our shareholders, delivering an attractive cash price and immediate, certain value today," PolyPeptide Chairman Peter Wilden said.
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