On the 13th, SAMSUNG BIOLOGICS announced preliminary interim results for the tender offer for Polypeptide Group shares, which ran from the 15th of last month through the previous day.
The tender offer was conducted through Samsung Peptide, a subsidiary of the special purpose company (SPC) established to acquire Polypeptide Group. It targeted all 33,016,411 issued shares—excluding treasury shares—at a price of 44.31 Swiss francs per share.
According to the preliminary tally, a total of 29,014,418 shares were tendered. This represents 87.88% of the shares subject to the tender offer and 87.59% of Polypeptide Group’s total issued shares. All 18,375,000 shares held by the previous largest shareholder, Draupnir Holdings, were also tendered.
These results are preliminary; the final interim results, verified by an independent auditor, are scheduled to be announced on the 16th. SAMSUNG BIOLOGICS plans to accept additional subscriptions from the 19th to the 30th and then finalize the transaction following approval from relevant authorities in Europe, India, Australia, and Brazil. The company aims to complete the final acquisition by the end of November.
SAMSUNG BIOLOGICS signed an acquisition agreement with Polypeptide Group last July. The acquisition price of 1.46 billion Swiss francs (approximately 2.7 trillion won) marks the largest merger and acquisition (M&A) deal in South Korea’s pharmaceutical and biotech industry.
With this acquisition, SAMSUNG BIOLOGICS will expand its CDMO business scope to include peptides, in addition to its existing antibody drugs, messenger RNA (mRNA), and antibody-drug conjugates (ADCs).
Peptides are used as key raw materials in diabetes and obesity treatments, and production demand is expected to grow in line with the expansion of the related therapeutic market. According to analyses by global investment banks (IBs) and others, the global obesity treatment market is projected to grow to as much as $150 billion (approximately 200 trillion won) by around 2035.
SAMSUNG BIOLOGICS plans to expand its business foundation by combining its accumulated experience in the design and operation of large-scale production facilities with the peptide development and production capabilities of its Polypeptide Group. The company also plans to consider expanding its production facilities in the future based on market demand.
